U.K.-based investment firm Glennmont Partners has entered the offshore wind sector by agreeing to acquire a 25 percent stake in the 330-megawatt Gode Wind 1 wind farm off the coast of Germany for an undisclosed amount.
The seller is Global Infrastructure Partners II, a fund managed by Global Infrastructure Partners, which had a 50 percent stake in the project.
The sale will be completed during third quarter 2019.
The acquisition was made on behalf of Glennmont’s Clean Energy Fund III, which closed with €850 million ($947 million) in equity commitments.
