European Investment Bank invests €50 million in clean energy fund

Facebook
Twitter
LinkedIn
Reddit
Email

The European Investment Bank (EIB) has made its largest equity investment in clean energy this year, with a €50 million (US$68.5 million) investment into the second Glennmont Fund.

The €50 million investment will go directly to Glennmont Partner’s second clean energy infrastructure fund, a third of which is expected to go towards PV projects in Europe.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

Glennmont Partners is a European clean energy investment fund manager; it raised €200 million towards the second clean energy fund in August.  The fund already has commitments of €250 million (US$342.9 million) from new and previous investors and has invested in 165MW of solar projects since its founding at the beginning of 2013. Glennmont was founded as a spin off from BNP Paribas Clean Energy Partners, and focuses on renewable energy projects in the UK and Europe.

Talking to PV Tech, Joost Bergsma, CEO of Glennmont, said the second clean energy fund has a target of €450 million and aims to invest a third of this in PV solar projects in Europe.

The EIB is responsible for funding renewable energy projects in line with the European Union target of reaching 20% renewable energy by 2020.

The EIB leant €3.3 billion (US$4.5 billion) in 2012 towards EU renewable energy policy, and announced in August it is to invest €167 million (US$230 million) in renewable energy projects in Central America.

Applications for EIB funding include Santander’s UK Framework Loan for solar photovoltaic projects, a 121MW solar thermal project in the Negev Desert in Israel, a 30MW in West Africa and a 200MW CSP parabolic trough project in Morocco.

Bergsma said the investment “further demonstrates that our independent, specialist approach is attractive to top-level investors”. “We share a common goal with the EIB to promote sustainable and secure sources of energy for the UK while also delivering consistent yield and long-term capital appreciation for investors,” he said.

Jonathan Taylor, European Investment Bank vice president, said Glennmont has “an established track record and proven readiness to support renewable energy projects across Europe. The European Investment Bank is pleased to back projects that tackle a changing climate.”

Read Next

September 12, 2025
Colombian energy supplier Celsia is seeking more than US$1.2 billion in investment to build wind and solar generation projects in Peru. 
September 12, 2025
German trade association BSW-Solar has called the German government for a simplified, standardised and more digitalised grid access for solar PV and energy storage operators.
September 12, 2025
ACME Venus Urja has secured INR3.8 billion (US$43 million) to develop and construct a solar-plus-storage project in Barmer, Rajasthan.
Premium
September 12, 2025
Vote Solar's Sean Garren tells PV Tech Premium that Georgia Power's latest IRP is 'skewed so heavily towards fossil fuels'.
September 11, 2025
Founder Group has won a RM10 million (US$2.3 million) engineering, procurement, construction and commissioning contract for a 30MW solar plant in Malaysia.
September 11, 2025
German renewable energy developer ib vogt has signed a 70MW solar PV virtual power purchase agreement (vPPA) in Romania.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK
Solar Media Events
October 7, 2025
Manila, Philippines