- Press Releases
July 28 (Renewables Now) - London-based fund manager Glennmont Partners said on Tuesday it will offload a 100-MW portfolio of French wind parks to TTR Green Fund IV and its co-investors for an undisclosed sum.
Glennmont, which was acquired by global asset manager Nuveen in March, is seeking to raise funds to invest in low-carbon assets such as onshore and offshore wind and solar projects across Europe, the US and Asia Pacific. “France remains an attractive geography for Glennmont where our expert team has a strong understanding of the local clean energy market. We look forward to securing further value from renewable energy investments in the future,” said CEO and co-founder Joost Bergsma.
The portfolio being sold consists of eight operational onshore wind parks located across Northern France. All of those plants are located at sites with high wind resources have in place full-service contracts, the seller said.
Seven of the wind farms are part of Glennmont’s Clean Energy Fund Europe II, while the eighth asset is part of its third fund. This is the third divestment from the EUR-500-million (USD-590.5m) second fund. Earlier in July, a 315-MW operational wind portfolio in Italy, majority-owned by Glennmont, was sold to Italian oil and gas group Eni SpA.
The latest deal is subject to customary lenders change of control approval.
(EUR 1 = USD 1.181)