Glennmont Partners has acquired a portfolio of onshore wind projects in two Spanish cities from Sirocco Power, a special purpose vehicle incorporated by Alfanar Group, based in Saudi Arabia, marking the company’s foray into the Spanish wind market.
Known as Sirocco Winco 2, the portfolio is made up of four assets with a combined capacity of 98.7 megawatts. The assets include the 23.6-megawatt La Escalereta II, the 7.8-megawatt La Estancia, the 27.3-megawatt Chinchilla and the 30.7-megawatt Barrax.
The projects will benefit from a 10-and-a-half-year power-purchase agreement with Engie and have debt financing in place with Banco De Sabadell, the European Investment Bank and Abanca Corporacion Bancaria.
“Spain is a key target geography for Glennmont, and our entry to the Spanish wind market marks a significant milestone for our ambitions for the region, as well as the amount of capital we have now invested in projects from our third clean energy investment plat
