View all newsletters
Receive our newsletter – data, insights and analysis delivered to you
  1. News
June 4, 2019

Glennmont Clean Energy Fund III raises €850m for green energy

London based investment group Glennmont Partners has raised €850m at the final close of its third fund for investments in clean energy projects across Europe.

By Jack Unwin

London based investment group Glennmont Partners has raised €850m at the final close of its third fund for investments in clean energy projects across Europe.

Free Report
img

Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
by GlobalData
Enter your details here to receive your free Report.

Initiated in late 2017, the fund exceeded its target of €600m and took the group’s investment in clean energy infrastructure to over €2bn.

Europe was the biggest area for investment in the fund, with 79% of investors coming from the region, including the European Investment Bank (EIB). Asian markets contributed 12% of the fund, with the final 9% coming from North America.

Over 70% of the investment will go to projects in the Eurozone and the UK. The group will invest in offshore wind projects for the first time, alongside solar, onshore wind, bioenergy and hydropower. The fund will last ten years and will target recently built or soon to be operational projects.

Glennmont CEO Joost Bergsma said: “We are delighted to announce the successful closure of our Third Clean Energy Fund which has raised over three-quarters of €1bn. Institutional investors globally recognise that the energy transition and climate change is of key relevance to the performance of their portfolio.

“Glennmont’s investment strategy has proven to deliver good performance and predictable returns, and this strong demand from investors underlines the quality of the assets it invests in.”

The group tweeted: “Glennmont smashes hard cap target for clean energy fund III raising €850m. It is the largest amount that has ever been raised for a green energy only fund with a European mandate.”

“The over-achievement of the target for fund III (originally €600m) was achieved because of the high level of interest in sustainable themes among investors.”

 

 

Related Companies

Free Report
img

Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
by GlobalData
Enter your details here to receive your free Report.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Wednesday. The power industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Power Technology