After having transferred the Italian photovoltaic portfolio at the end of December 2018 to the Tages Helios and Tages Helios II funds, managed by Tages Capital sgr (see here a previous article by BeBeez), now Glennmont Partners is preparing to sell its portfolio of wind assets too, consisting of from 245 MW of plants located largely in Southern Italy and largely inherited from an acquisition made in 2016 when the Spanish Iberdrola sold the assets, Il Sole 24 Ore writes, reporting that the value of the portfolio could be around 500 million euros. Glennmont is now selecting the transaction’s financial advisor, while the legal advisor will be Orrick.
Only last December Glennmont Partners acquired Andali Energia, owner of a 30 MW wind farm in Italy, via CEF 6 Wind Energy controlled by the Glennmont Clean Energy Fund III (see here a previous article by BeBeez). The plant is located in Andali, Calabria.
Glennmont’s eolic plants could be of interest to industrial entities such as A2A, Eni, Edison, Engie, but also to infrastructure private equity firms such as F2i and Ardian.
Furthermore, industrial entities such as A2A and Erg and Sonnedix Power Holdings, controlled by JP Morgan asset management, had already participated in the auction for Glennmont’s photovoltaic assets (see here a previous article by BeBeez). The value of the transaction in that case had been around 300 million euros. At the time, three photovoltaic plants located in Veneto and Lazio with a total capacity of 85.4 MW (Enersol with an installed capacity of 48 MW, Megasol of 13.2 MW and Phenix of 24.2 MW) had been sold by the Glennmont Clean Energy Fund.
Glennmont Partners is one of the largest European fund managers who focuses exclusively on investments in clean energy infrastructure. Last June the firm announced the final closing at 850 million euros for its third fund dedicated to renewable energy projects in Europe and Great Britain, Clean Energy Fund III, far exceeding the initial target of 600 million (see here a previous article by BeBeez).