Glennmont closes acquisition of 18MW wind farm in France
Glennmont Partners has completed the acquisition of an 18 MW operating wind farm in the North-East region of France.
The wind farm is powered by Senvion turbines and was developed and built by ENERTRAG, a leading German developer which has installed over 570 wind turbines.
ENERTRAG, which currently provides technical management and maintenance services for over 1,400 turbines, will continue to look after the technical and commercial operations of the wind farm.
This transaction takes Glennmont’s onshore wind portfolio over 210 MW across France, Ireland, the UK and Italy. Glennmont continues to develop a diversified portfolio of renewable energy projects across geographies and technologies, to deliver robust and sustainable returns for its investors.
Francesco Cacciabue, Partner and Chief Financial Officer of Glennmont Partners, stated:
“The acquisition further reinforces Glennmont’s track record of identifying and buying quality assets in France, and closing transactions quickly with no execution risk. We are delighted to partner with a reputable developer and operator like ENERTRAG for the long-term management of the wind farm.”
Simon Hagedorn, Head of Portfolio Management and M&A at ENERTRAG, commented:
“We appreciate the close cooperation with Glennmont and look forward to continuing our partnership. By providing the technical and commercial management, ENERTRAG continues to be committed to this project which we started in 2007 and constructed together with three wind projects in the North-East region within the last year.”
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