Glennmont Partners has today announced the sale completion of its Gortahile Wind Farm to Greencoat Renewables PLC, an Irish renewable energy company. The completion of the sale marks a further step towards the full divestment of Glennmont’s Clean Energy Fund I that was originally launched in 2009.
Gortahile, a 20 MW wind farm located in County Laois in the Republic of Ireland, is powered by eight Nordex N90 LS turbines. Nordex will continue to manage the wind farm’s operations and maintenance. The wind farm was originally commissioned in 2010, and was acquired the same year by BNP Paribas Clean Energy Partners, two years before it became Glennmont Partners in 2012.
Glennmont Partners is one of the world’s largest fund managers focusing exclusively on investment in clean energy infrastructure, with assets worth over €2bn. The announcement of the Gortahile sale sustains Glennmont’s recent momentum, coming shortly after the launch of its new REBS financial product and the final close of the €850m Clean Energy Fund III in June.
Commenting on the sale, Francesco Cacciabue, Partner and CFO of Glennmont Partners, said:
“We are delighted to be finalising the sale of Gortahile Wind Farm to Greencoat Renewables. Glennmont Partners has been an active investor in the Irish wind market for a number of years and this divestment from Clean Energy Fund I further underlines our ability to deliver value from our assets. With a specialist focus on clean energy infrastructure, investors can look forward to our experienced team securing and adding further value from European power generation assets in the coming months.”