Glennmont Partners, one of the largest infrastructure investment managers dedicated to clean energy across Europe, has completed the acquisition of three French operating wind farms with a total capacity of 25MW from Diamond Wind Europe and Green Power Development Holding.
The acquisition comprises three wind farms, 11MW, 8MW and 6MW respectively, located in the Nord region of France. The sites are located in one of the strongest wind resource areas in the country. The portfolio has entered into a power purchase agreement (PPA) with EDF and each wind farm benefits from the 15-year French feed-in tariff regime.
Glennmont has signed long-term operation and maintenance agreements, and has secured long-term, non-recourse project financing.
This transaction adds to Glennmont’s existing French wind portfolio of ten assets which includes the acquisition of 22 MW projects announced in October last year and takes it to over 100 MW.
Glennmont continues to develop a diversified portfolio of renewable energy projects across geographies and technologies, to deliver robust and sustainable returns for its investors. Currently managing over 190MW onshore wind farms in France, Ireland, Italy and the UK, it is strongly positioned for future growth. Peter Dickson, Partner and Technical Director of Glennmont, stated:
“We are glad to have worked with our Japanese partners to close this transaction that brings our French wind portfolio to more than 100MW. France is a core market for us, and we continue to look for opportunities to acquire well-developed projects across the country.”