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Glennmont adds three French wind farms

The London-based fund manager has taken its portfolio of wind assets in the country to more than 100MW by adding a further 25MW.

Glennmont Partners, the UK clean energy-focused fund manager, has acquired three French wind farms with a total capacity of 25 megawatts (MW).

The farms, which have individual capacities of 11MW, 8MW and 6MW, have been acquired from developers Diamond Wind Europe and Green Power Development Holding and are located in the Nord region, which has a strong wind resource.

The three-strong portfolio has a power purchase agreement (PPA) with French electric utility EDF, with each farm benefitting from the 15-year French feed-in tariff regime. Glennmont says it has secured long-term, non-recourse project finance for the portfolio.

The fund manager now has a total of 10 French wind assets totalling over 100MW, having most recently acquired projects with a 22MW capacity last October.

In France, Ireland, Italy and the UK, Glennmont now has 190MW of onshore wind farms.

Last month, the firm paid £160 million (€214 million; $240 million) to acquire the Margam Green Energy Project, a 40MW biomass power station located in Wales, from UK developer ECO2 and timber producer Western Logs Group.

Glennmont, a spinout from BNP Paribas, closed its second fund on €500 million in September last year, beating a target of €450 million.