Glennmont Partners, an infrastructure manager owned by Nuveen, has entered the Swedish market with a 47MW onshore wind portfolio investment.
Glennmont said its recently launched open-ended 鈧�700m brownfield European renewable infrastructure fund is buying the 19.8MW Langmarken wind farm in Kristinehamn, Southern Sweden and the 27.6MW Vasberget wind farm in Ljusdal, Northern Sweden.
The assets were acquired from Eolus and via its Mirova Eurofideme and Mirova Renewable Co-Investment funds.
Last year, Glennmont launched the European Core Renewable Infrastructure strategy in partnership with PMT鈥檚 investment manager MN.
The Swedish deal represents Glennmont鈥檚 second investment in the Nordics after the Piiparinm盲ki wind farm in Finland. The manager also recently made its debut US and South Korea deals.
Joost Bergsma, CEO at Glennmont Partners from Nuveen, said: 鈥淲e鈥檙e delighted to have worked with Mirova to complete our first investment in Sweden. The Swedish wind sector market is a key target market in the Nordic region for Glennmont and these assets fit well with our brownfield renewable infrastructure investment strategy.鈥�
Raphael Lance, the head of energy transition funds at Mirova, said: 鈥淲e are proud to have brought in operation this Swedish portfolio with the help of initial developers and construction companies Eolus and RES Renewables Norden and with the support of our co-investor EIB.
鈥淎fter almost six years of operations, in line with our third fund mandate, we are delighted to hand it over to the experienced teams at Nuveen.鈥�
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