Glennmont targets €450m RE fund

UK-based private equity infrastructure investor Glennmont Partners has raised €200m ($267m) towards its second clean-energy investment fund.

The new fund, with a €450m target size, has a life of ten years.

Glennmont is one of Europe’s largest fund managers focusing exclusively on investment in clean energy infrastructure.  The firm was founded earlier this year following a spin-off of BNP Paribas Clean Energy Partners from BNP Paribas Investment Partners.

Its approach is to raise long-term capital to invest in alternative power generation projects. “We target Western European infrastructure,  mainly focusing on proven technologies such as onshore wind, solar, and biomass,” Glennmont managing partner Joost Bergsma tells Recharge.

Glennmont’s first fund is now fully committed with the firm having made investments worth more than €1bn. “The first fund invested in some 15 projects across Europe,” he says.

Bergsma says there is a growing demand from institutional investors interested in clean energy projects. “There is a good demand for investing in clean energy infrastructure. We see our ‘sweet spot’ as being in medium-sized wind farms

“When we formed Glennmont our intention was to create a platform which fully aligned the interests of our investors with those of our team,” says Bergsma. 

“We were clear that our specialist focus on clean energy infrastructure investments would appeal to institutional investors need for yield and long term capital appreciation.  The strong response we have received to our second fund at this early stage reinforces those views.

 “Clean energy infrastructure is a highly attractive asset class for those investors looking for lower-risk assets simultaneously offering wealth protection, consistent yield and capital value appreciation,” he adds.