This is the single largest clean energy equity investment made by EIB this year.
In recent years the EIB’s annual lending in this sector has increased substantially, reaching €3.3bn in 2012. Besides lending, the EIB makes equity investments and provides finance and expertise to projects across Europe.
“We are delighted that the EIB has chosen to invest in our second fund,” said Joost Bergsma, CEO of Glennmont. “We share a common goal with the EIB to promote sustainable and secure sources of energy for the UK while also delivering consistent yield and long-term capital appreciation for investors.”
Glennmont Partners was founded earlier this year following a spin off of BNP Paribas Clean Energy Partners. Its seeks to raise long-term capital to invest in alternative power generation projects focusing on proven technologies such as wind, biomass, solar and small-scale hydro across the UK and continental Europe.