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Clir Renewables Wins Deal With Glennmont Partners to Provide Support for 30 MW Onshore Wind Portfolio Acquisition
Wednesday, October 18, 2023Company Profile | Follow Company
Clir Renewables provided an evidence-based energy yield analysis and assessment of project performance for competitive M&A decision and bid
Vancouver, BC, October 18, 2023--(T-Net)--Clir Renewables (Clir), developers of a renewable energy intelligence platform, has announced its support in the latest 30 MW onshore wind portfolio acquisition by Glennmont Partners by Nuveen.
Glennmont Partners (Glennmont), Nuveen Infrastructure's clean energy specialist and one of the world's largest fund managers investing in clean energy, acquired Haapajärvi I and Haapajärvi II in the Northern Ostrobothnia region of Finland. This represents Glennmont's first acquisition in Finland, following the development of the Piiparinmäki wind farm.
Glennmont selected Clir to support the acquisition process from the non-binding offer stage through to successful acquisition.
Clir provided a full reforecasted operational energy yield assessment within a week using the portfolio's SCADA data alongside Clir's 200 GW industry dataset and expert knowledge. Clir also provided an optimization roadmap for production and operations of the assets by benchmarking performance and loss factors against an industry peer group.
The evidence-based insights and efficient turn-around enabled Glennmont to make well-informed assumptions based on robust and defensible p-values. More accurate technical assumptions for the financial model provided confidence in the bid to successfully acquire the assets.
Following the acquisition, Glennmont says it will continue to leverage Clir to support the implementation of identified optimizations and to further benchmark the performance of the wind farms.
"Clir's data analysis and energy yield assessment was fast and reliable, which helped us with a competitive bid," said Jerome Gautrais, Managing Partner, Glennmont. "Having leveraged Clir on multiple acquisitions, we are continually impressed with the efficiency and accuracy of their work, and we look forward to continuing to work with them."
Catrin Meurig, Principal Business Development Manager, Clir M&A, added "Renewable energy assets produce vast quantities of data. Fast analysis of this data is critical to successful M&A transactions, especially as the landscape becomes increasingly competitive. We are glad to have been able to support Glennmont on their latest acquisition and look forward to continuing to work together throughout the project's lifecycle."
About Clir
Clir accelerates renewable energy production - improving the economics of projects and ultimately reducing human impact on the planet by further incentivizing the shift away from fossil fuels. Combining the industry's largest contextual operational dataset of more than 200 GW with powerful AI that is built, designed and supported by decades of renewable energy expertise Clir provides investors and renewable energy professionals with the insights and tools they need to assess and optimize wind and solar projects.
Founded in 2017, the company works with renewable energy investors and their asset managers across Europe, Africa, the Americas and Asia.
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