Glennmont Partners launches sale of 29.8 MW Portuguese PV portfolio

Glennmont Partners has entered into an agreement for the sale of its Portuguese Solar photovoltaic portfolio to First State Investments-owned renewable energy investment group, Finerge.

The unique Lucia portfolio sold comprises of four solar PV farms with a total installed capacity of circa 30MW. The four projects, Coruche (9.6MWp), Seixal (8.9MWp), Sol Cativante V (6.7MWp) and Sol Cativante VII (4.6MWp) commenced operations between 2013 and 2014.

The Sol Cativante V project, an asset originally from Clean Energy Fund I, finalizes Glennmont’s asset divestment from Fund I in Portugal. The full completion of the sale is subject to Portuguese administration clearance.

This deal represents another exciting milestone for Glennmont, as the first divestment from their EUR500 million(US$548 million) Clean Energy Fund II that achieved final close in 2013.