Glennmont Partners from Nuveen has made a landmark investment in Sweden’s wind sector.
The joint venture will acquire a 47-megawatt onshore wind portfolio, composed of the 19.8-megawatt Langmarken wind farm in Kristinehamn, Southern Sweden, and the 27.6-megawatt Vasberget wind farm in Ljusdal, Northern Sweden. The two wind farms were acquired from Eolus and French asset manager Mirova, an affiliate of Natixis Investment Management, via its funds Mirova Eurofideme 3 and Mirova Renewable Co-Investment 1.
Both wind farms have been operational since 2017 and offer a versatile multi-option power-purchase agreement offtake framework with Statkraft until 2032, allowing for short and medium-term strategic adaptability.
The investment is the first from the open-ended €700 million ($764 million) brownfield European renewable infrastructure fund, which was launched with Dutch investor MN in 2022 to invest in brownfield renewables projects in Europe.
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