Glennmont seeks EIB injection
Fund applies for European cash towards €450m renewables drive
Alternative energy investment company Glennmont Partners is seeking funding from the European Investment Bank to commercialise renewables projects across the UK and Europe.
The company is seeking an undisclosed sum towards its Glennmont Clean Energy Fund Europe 2, which has an estimated total value of €450m. The fund will support onshore wind farms, solar PV and biomass developments.
The projects are undergoing appraisal and negotiation before the EIB board of directors can approve and sign off on a loan.
Glennmont acquired the €437m BNP Paribas Clean Energy Partners fund at the start of the year, including the Todmorden wind farm in West Yorkshire which was originally developed by Coronation Power. Nordex will supply five N90/2500kW turbines to the scheme under a turnkey deal signed in February.
Image: Glennmont acquired Todmorden wind farm, which will feature Nordex N90 turbines, early this year (Nordex)