COMMUNIQUÉ DE PRESSE

par ABO Invest AG (isin : DE000A1EWXA4)

clearvise AG sells Finnish 30MW wind portfolio to Glennmont Partners

EQS-News: clearvise AG / Key word(s): Disposal/Strategic Company Decision
clearvise AG sells Finnish 30MW wind portfolio to Glennmont Partners

17.07.2023 / 16:04 CET/CEST
The issuer is solely responsible for the content of this announcement.


Corporate News 

clearvise AG sells Finnish 30MW wind portfolio to Glennmont Partners

  • Strategic decision, as Finnish market no longer meets clearvise's investment criteria
  • Active portfolio management underlines ability to act

Wiesbaden, July 17, 2023 - clearvise AG (WKN A1EWXA / ISIN DE000A1EWXA4), an independent power producer from renewable energies with a diversified, European portfolio of wind and PV plants, today sold its two Finnish wind farms to London-based Glennmont Partners. Glennmont already operates a 211 MW wind farm in Finland and is currently developing a battery storage facility in the region.

"The sale of our Finnish portfolio was a strategic decision. The current and foreseeable future development of the Finnish market no longer fits into clearvise's clearly defined investment strategy," explains Petra Leue-Bahns, CEO of clearvise AG. "We are convinced to have found the perfect buyer and operator with Glennmont and thank them for the good cooperation. Glennmont is very familiar with the Scandinavian markets, is planning further investments there and has extensive know-how in operating onshore wind projects."

clearvise attaches importance to an efficient bundling of resources. The investment criteria are to be able to invest at least 10% of the assets under management in a target market in the long term. Due to the price development, the company considered this to be difficult in Finland.

"This transaction has confirmed that active portfolio management makes us flexible and capable of acting to the highest degree," Petra Leue-Bahns continued. The example demonstrates the entrepreneurial opportunities that always arise when operating a large portfolio. The company intends to reinvest the sales proceeds in projects from strategic alliances in several European countries via the clearPARTNERS model.


About clearvise

clearvise AG is an independent electricity producer from renewable energies with a diversified, European plant portfolio. Currently, the established investment portfolio of the (“Bürgerwindaktie”) consists of wind and solar parks in Germany, France, Ireland and Finland as well as a biogas plant. With an operational capacity of more than 300 MW, clearvise produces green electricity from renewable energy sources. Based on a three-pillar acquisition strategy, offering advantages from the distinct clearSWITCH, clearPARTNERS and clearVALUE models, the company is concentrating on profitable expansion of its portfolio of European wind onshore and PV plants by creating win-win situations for all parties involved. The clearvise AG share (WKN A1EWXA / ISIN DE000A1EWXA4) has been listed since 2011 and is currently traded on the open markets of various German stock exchanges and via XETRA.


About Glennmont Partners

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 $1.1 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.

*as of 30 March 2023


About Nuveen Infrastructure

Nuveen Infrastructure is the infrastructure investment arm of Nuveen, the investment manager of TIAA with $1.1 trillion in assets under management as of 31 March 2023. Nuveen Infrastructure aims to invest in middle market opportunities across multiple strategies and sectors, including clean energy, agribusiness, telecommunications, transportation, and social infrastructure. Our platform offers a diverse set of vehicles and customized strategies as well as deep expertise through an extensive operating partner network.


Contact

cometis AG
Thorben Burbach
Tel.: +49 (0)611 - 205855-23
Fax: +49 (0)611 - 205855-66
E-mail: burbach@cometis.de



17.07.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com


Language:English
Company:clearvise AG
Unter den Eichen 7
65195 Wiesbaden
Germany
Phone:+49 (0)611 26 765 0
Fax:+49 (0)611 26 765 599
E-mail:info@clearvise.com
Internet:www.clearvise.com
ISIN:DE000A1EWXA4
WKN:A1EWXA
Listed:Regulated Unofficial Market in Dusseldorf, Hamburg, Munich
EQS News ID:1681645

 
End of NewsEQS News Service

1681645  17.07.2023 CET/CEST

fncls.ssp?fn=show_t_gif&application_id=1681645&application_name=news&site_id=symex
Voir toutes les actualités de ABO Invest AG