February 15, 2023 Glennmont Leverages Clir Data for First 47 MW Wind M&A

Clir Renewables provided an evidence-based analysis for a competitive M&A decision and bid in this debut onshore wind portfolio acquisition.

Vancouver – Clir Renewables (Clir), the renewable energy intelligence platform, is proud to announce its support in the latest 47 MW onshore wind portfolio acquisition from Glennmont Partners by Nuveen.

Glennmont Partners (Glennmont), Nuveen Infrastructure’s clean energy specialist and one of the world’s largest fund managers investing in clean energy, acquired Langmarken wind farm in Kristinehamn, Southern Sweden, with a total capacity of 19.8 MW, and Vasberget wind farm in Ljusdal, Northern Sweden, with total capacity of 27.6 MW. The investment is the first from the open-ended €700m brownfield European renewable infrastructure fund, which was launched with Dutch investor MN last year to invest in brownfield renewables projects in Europe.

Glennmont selected Clir to support the acquisition process from the non-binding offer stage through to successful acquisition. This involved a SCADA-free assessment of the information provided in the data room, paired with Clir’s 200 GW industry dataset and expert knowledge to provide evidence-based insights into the current status of the asset.

After gaining access to SCADA data, Clir was able to assess and recommend upgrades and optimization opportunities in more detail, based on benchmarking of industry peer group loss factors. This enabled a critical review of the technical information and the energy yield assumptions for a competitive bid needed to successfully acquire the two assets.

Following the acquisition, Glennmont will continue to leverage Clir for support to implement the identified optimization opportunities and to further benchmark the performance of the wind farms.

Of the technical advice provided by Clir, Jerome Gautrais, Managing Partner, Glennmont, said, “Clir’s data analysis was good, fast and reliable, which helped us with a timely and competitive bid. Leveraging their expert knowledge and support proved to be extremely helpful for a successful acquisition, and we look forward to the continued support to help optimize the assets for technical and financial success.”

Catrin Meurig, Principal Business Development Manager, Clir M&A, added “As the M&A landscape becomes increasingly competitive, owners must leverage data and industry benchmarking to make smarter M&A decisions and accurate bids. Working with Glennmont for its first brownfield European renewable infrastructure fund acquisition proved to be extremely successful and we look forward to our continued partnership through the project lifecycle.”

About Clir
Clir accelerates renewable energy production – improving the economics of projects and ultimately reducing human impact on the planet by further incentivizing the shift away from fossil fuels. Combining the industry’s largest contextual operational dataset of more than 200 GW with powerful AI that is built, designed and supported by decades of renewable energy expertise Clir provides investors and renewable energy professionals with the insights and tools they need to assess and optimize wind and solar projects.

Founded in 2017, the company works with renewable energy investors and their asset managers across Europe, Africa, the Americas and Asia.

For more information, visit: www.clir.eco

About Glennmont
Glennmont Partners from Nuveen is a leading infrastructure equity firm that has been at the forefront of clean energy investments for over a decade. It is owned by Nuveen, which manages $1.3 trillion in assets on behalf of institutions and individuals around the world. Glennmont is one of Europe’s largest specialist renewable energy fund managers with approximately €2 billion invested in over 30 clean power projects such as wind farms, solar photovoltaic and biomass that together produce more than 1,500MW of energy across the European Union. (www.glennmont.com)

Glennmont Partners is a trading name of Clean Energy Partners LLP and Glennmont Asset Management Limited, both of which are authorized and regulated by the Financial Conduct Authority.

For further information, visit www.glennmont.com.

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