EU clean energy investor raises €500m

Renewable energy investor Glennmont Partners said it has raised €500 million (£395m) as part of its second fund, smashing its €450 million (£355.7m) target. It manages long-term capital to invest […]

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By Priyanka Shrestha

Renewable energy investor Glennmont Partners said it has raised €500 million (£395m) as part of its second fund, smashing its €450 million (£355.7m) target.

It manages long-term capital to invest in technologies such as wind, biomass, solar and small-scale hydro.

The 10-year Clean Energy Fund II was supported by the European Investment Bank (EIB) with €50 million (£39.5m) and also attracted investment from across Europe, the US, Middle East and Asia.

Joost Bergsma, Glennmont Managing Partner said: “The oversubscribed nature of our second fund raising and the breadth and calibre of our investors, is a clear signal that the market’s appetite for yield and long term capital appreciation remains healthy.”

The first fund has operating infrastructure projects in the UK, Ireland, France, Italy and Portugal totalling 354MW.