Deutsche Windtechnik wins turbines maintenance contract in Sweden
Sep 19, 2024 14:55 CESTUK fund manager and clean infrastructure investor Glennmont Partners will acquire a 47-MW portfolio of onshore wind farms in Sweden through its EUR-700-million (USD 761.2m) fund with Dutch financial services firm MN.
The target portfolio includes two wind parks – the 19.8-MW Langmarken in southern Sweden’s Kristinehamn municipality and the 27.6-MW Vasberget plant in Ljusdal, northern Sweden, Glennmont said on Tuesday. The assets are being sold by Swedish renewables company Eolus Vind AB (STO:EOLU-B) and Paris-based impact investor Mirova, an affiliate of Natixis Investment Management.
Financial details about the purchase were kept under wraps.
Both wind farms have been generating electricity since 2017. Their output is contracted by Norwegian energy group Statkraft under a multi-option power purchase agreement (PPA) running through 2032.
Glennmont, part of US-based asset management company Nuveen, and MN established the open-ended fund in September last year to invest in renewable energy projects on brownfield sites across Europe. The Swedish acquisition will mark the fund’s first investment, Glennmont said.
For Glennmont, the transaction follows recent deals in the US and South Korea. The company is also a co-owner of the 211-MW Piiparinmaki wind farm in Finland, which was powered up last September.
(EUR 1.0 = USD 1.087)
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