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Glennmont Partners has agreed to the sale of a 15% minority stake in Project Piiparinmäki, a 211.4MW wind farm, to Kansai Electric Power Company.
The onshore wind farm, located in central Finland, is currently under construction with commercial operation expected in late 2021. The sale of the stake in Piiparinmäki marks the first divestment from Glennmont’s €850 million Clean Energy Fund III, which achieved financial close last summer. Piiparinmäki was acquired by Glennmont from Ilmatar Energy in September 2019 in their first ever investment in the Nordic market.
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