Glennmont Partners buys 10-MW wind farm in Italy

Glennmont Partners has acquired a 10-MW wind park in central Italy for an undisclosed sum.

The London-based renewable energy fund manager announced the completion of the transaction on Friday, saying it now has an onshore wind portfolio of 550 MW. The acquisition is also in line with the company’s strategy to own renewable energy projects “diversified by both geography and technology” so as to provide predictable returns to investors, Glennmont Partners said.

The acquired wind farm has five Gamesa G90 turbines, the output of which is sold under a 15-year feed-in-tariff (FiT) contract to 2027.

“This acquisition reinforces Glennmont’s track record of acquiring quality assets in Italy, a core market for us,” said Francesco Cacciabue, partner and CFO of Glennmont Partners. In Italy alone, the UK group owns more than 345 MW of onshore wind capacity.

Italy had nearly 9.3 GW of wind power capacity at the end of 2016.

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