Agreement builds on existing relationship between the two firms as Greensolver takes on technical and commercial management of 25MW wind farm portfolio.
Paris, 30 January 2015 – Greensolver, the independent wind and solar farm asset manager, has been selected by Glennmont Partners, the leading clean energy investment fund, to actively manage a 25MW wind portfolio in France.
As European onshore wind power matures, it has become an increasingly attractive asset class to secondary investors who are looking for consistent returns with proven technologies and projects. To manage these effectively, however, and ensure compliance, auditing and continuous portfolio improvement under ISO55001 standards, many funds are turning towards the services of specialist asset managers.
The Glennmont Partners deal will see Greensolver provide its Technical and Commercial Management services for the projects on a regular basis over a period of five years. Under the terms of the agreement, the projects, all powered by Vestas V90 machines, will be assigned a dedicated project manager who will look to ensure the best performance of the assets, effect repairs & maintenance, and report to the project owners.
Over the lifetime of the agreement, Greensolver will carry out day to day technical and commercial management as part of an ongoing strategy of instigating an ongoing portfolio performance plan.
Under the terms of the deal, Glennmont Partners will also realise the benefits of Greensolver’s unique benchmarking tool, Greensolver Index, which enables investors to compare the performance of their projects not just individually within their portfolio, but also against a multitude of other operational projects in Europe.
“As the European onshore wind markets continue to mature, there is a growing number of investment funds that require the services of asset managers to get the best from their portfolios” said Guy Auger, Chief Executive Officer, Greensolver.
“We see the latest ISO55001 regulations as a significant driver in this market, not only ensuring that clean energy investors get the best from their portfolios, but also demonstrating that renewables can be a reliable asset class.”
Jordi Francesch, head of Asset Management for Glennmont Partners commented: “Investing in renewable energy requires certainty, proven performance and the move towards a long-term portfolio performance plan. We are happy to be working with Greensolver with the aim of achieving that certainty; using their expertise and services to ensure that our investments provide absolute returns that meet the needs of our investors.”
Initially created by Veolia Environment in 2008, Greensolver was one of the first asset management firms in the French market to manage wind and solar park assets. Following a management buyout in 2012, it became one of the leading third party providers of renewable energy services in mainland Europe.