Energy

Clean energy fund manager Glennmont acquires Spanish solar portfolio

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LONDON, Sept 21 (Reuters) - Glennmont Partners has finalised the acquisition Spanish solar photovoltaic (PV) projects with combined capacity of 473 megawatts (MW), the clean energy fund manager said.

The fund bought the portfolio of solar assets, which are in central and southern Spain, from British solar energy company Grupotec for an undisclosed sum. Glennmont will partner with Grupotec on building and operating the projects.

The acquisition brings Glennmont's total pipeline of solar PV projects under development to more than 1.5 gigawatts (GW).

"Spain represents a key target geography for Glennmont, where we have a strong understanding of the renewable energy market that enables our expert team to identify and secure assets which in turn provide stable returns for our investors," said Joost Bergsma, chief executive and co-founder of Glennmont.

Earlier this month, Glennmont Partners launched an independent power company to develop and operate solar PV projects in southern Europe. read more

Reporting by Nina Chestney; Editing by Edmund Blair

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