A London-based investor group focused on investment in clean energy infrastructure projects in Europe has raised €200 million (£172.2m) towards its second fund.
The fund will last for ten years, with the aim of raising as much as €450 million (£387.4m), newly founded Glennmont Partners said in a statement.
The firm raises long-term capital to invest in alternative power generation projects focusing on proven technologies such as wind, biomass, solar and small-scale hydro.
Managing Partner Joost Bergsma said: “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. 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.”
Glennmont claims its first fund has made investments worth more than €1 billion (£0.86bn).
A UK solar investment fund yesterday announced it bought its first plant in Oxfordshire for £12 million.