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.
Glennmont Partners launched its first credit strategy in 2019. This is a closed fund with no new subscriptions available. The fund is fully invested through 9 different transactions, including 2 “first of its kind” deals in Europe, achieving a diversified portfolio with exposure to over 150 loans.
The strategy focuses on senior project finance loans tied to renewable energy generation assets located in Europe, using various credit structures and debt instruments with the aim of enhancing returns while keeping an attractive risk profile. REBS has exposure to solar PV, wind, mini hydro, and biomass assets across Western Europe.
(closed and fully divested)
This strategy seeks to capitalise on growing opportunities to support the green energy and infrastructure transition and build on the record of previous strategies.
The Energy Transition Enhanced Credit strategy focuses on investment in renewable energy and sustainable infrastructure assets across Europe, targeting both primary and secondary market credit opportunities.
European Clean Renewable Infrastructure will see investments in the flagship renewable energy producing technologies across the EEA. The strategy has a novel investment approach targetings power generating assets in later development stages (construction and operational) on a buy and hold basis.