Glennmont Partners launched its first fund, the Clean Energy Fund, in 2009. Despite a period of unprecedented economic uncertainty, we raised €437m within 18 months – making it the largest pure-play clean energy investment fund in Europe.
The range of institutional investors, including a cornerstone commitment from BNP Paribas Investment Partners, reflects the strong demand for clean energy infrastructure.
The fund focuses on proven alternative energy technologies: onshore wind, small-scale hydro, solar photovoltaic and biomass. It achieves a solid risk/return profile by investing in fixed assets with underwritten cash flows, and the potential for capital enhancement over time.
Glennmont Partners launched its second fund, the Clean Energy Fund II, in 2013, reaching the fundraising hard cap of €500m within 12 months.
As with the first fund, Fund II invests predominantly in wind, solar and biomass assets in Western Europe, with a preference for Eurozone investments. The fund is building on the success of Fund I by working with existing partners and closing projects from the pipeline identified during Fund I.
Glennmont Partners launched its third fund, the Clean Energy Fund III, in 2018. It overachieved its original target of €600m and instead raised €850m.
Fund III will see investments in offshore wind projects across the EEA for the first time. Otherwise, the fund adopts a similar investment strategy to its predecessors, targeting solar photovoltaic, onshore wind, bioenergy and small-scale hydro.