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European Investment Bank backs Glennmont Partners with €50m

9 Dec 2013

The European Investment Bank has invested €50m into Glennmont’s second clean energy fund, representing the largest equity investment into clean energy made by the bank in 2013.

Glennmont – an infrastructure vehicle that invests in clean energy throughout Europe – focuses on raising long-term capital to invest into alternative power generation projects with proven technologies, such as wind, biomass, solar, and small-scale hydro.

Commenting on the EIB investment, CEO of Glennmont Joost Bergsma said, “We are delighted that the EIB has chosen to invest in our second fund. It has developed a first class reputation for its work in clean energy and this investment further demonstrates that our independent, specialist approach is attractive to top-level investors. 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 has an established track record and proven readiness to support renewable energy projects across Europe. The EIB is pleased to back projects that tackle a changing climate,’ said Jonathan Taylor, EIB vice president responsible for environment and climate lending.

The latest equity injection from the EIB brings Glennmont’s second clean energy infrastructure fund to €250m from both new and existing investors in its first fund. The firm launched earlier this year following a spinout from BNP Paribas.

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