Glennmont Seeks More Than 500MW of Investment Opportunities in Clean Energy Infrastructure Assets with Expanded Investment Capacity

LONDON–(BUSINESS WIRE)–Glennmont Partners has expanded its investment capacity in the clean
energy infrastructure space and now has three funds under management –
these are Fund I (2010) and Fund II (2013), which are fully invested,
and now a new third Fund (2017). Opportunities are being sought for a
portfolio of clean energy infrastructure projects in Europe. Glennmont
is one of Europe’s largest investors focusing exclusively on investment
in clean energy infrastructure. This announcement follows the successful
refinancing of Glennmont’s 245MW Italian wind portfolio in October and
the refinancing of the Sleaford straw-fired biomass plant in September –
amounting to around €340m of capital raised over the course of 2017.

Glennmont’s strategy remains consistent with its past experiences: it
seeks to invest in solar PV, offshore and onshore wind, bioenergy and
small-scale hydro across the EEA; it will target to-be-built and
recently operational assets with stable, predictable cash yields
underpinned by regulated and contracted revenues.

Glennmont’s investment strategy is consistent with its prior portfolios
of 355MW and 500MW respectively and is evidence of the growing
importance of clean energy in the European energy portfolio. Fears of
reduced profitability due to reducing government support schemes have
been offset by the falling costs of renewable power produced; many new
routes to market for power, such as the corporate PPA market; and the
extension of a number of government support schemes.

Commenting on the search for investments, Glennmont CEO, Joost Bergsma
said:

“Glennmont continues to believe that the clean energy market is
attractive to investors and delighted to have expanded its investment
capacity allowing us to continue to find and deliver value across a
diversified portfolio of power generation assets. When we formed
Glennmont in 2007 we were clear that our specialist focus on clean
energy infrastructure investments would allow us to set the standard for
the clean energy industry. Our Investment and Asset Management teams
work together to identify, secure and add value to some of the best
clean energy generation assets in Europe”.

Christopher Knowles, Head of EIB's Infrastructure Fund and Climate
Action Team said, “EIB welcome the announcement by Glennmont Partners
that it has returned to the clean energy investment market and is
investing its third clean energy fund. This news is indicative of the
momentum behind the global shift towards low carbon technologies that we
are seeing currently. With investment in clean renewable energy at
record levels we can look forward to a similarly successful year in 2018
as we continue to drive innovation, create high value jobs and tackle
climate change.”

Glennmont acknowledges the financial support provided by the European
Investment Bank with the backing of the European Union through benefits
from a guarantee from the European Union under the European Fund for
Strategic Investments (“EFSI”) further to an agreement on the
management of the EFSI and on the EU guarantee to be provided by the
European Union entered into on 22 July 2015 by the EIB and the European
Union, as amended, supplemented or restated (the “EFSI Agreement”).

-Ends-

Notes to Editors:

Glennmont Partners is one of Europe’s largest fund managers focusing
exclusively on investment in clean energy infrastructure. It raises
long-term capital to invest in alternative power generation projects,
such as wind farms, biomass power stations, solar parks and small-scale
hydro power plants. Its carefully selected, risk managed investments
deliver sustained performance and predictable returns over periods of 10
years or more. Glennmont operates a portfolio of more than 840MW of
mixed renewable energy generation offering investors a balance of yield
and return. Based in London, the team has been working together since
2007, and has established a reputation for making intelligent, long-term
investments that deliver absolute returns.

A short video introduction to the SER portfolio can be seen here: http://www.glennmont.com/news-
media/asset-videos/.

Contacts

Lodestone Communications for Glennmont Partners
Harry Padfield
[email protected]
+44
(0)7896 140 920
or
Orla O’Callaghan
[email protected]
+44
(0)7491 727 785