Glennmont Partners, a European fund management firm focusing exclusively on investment in clean energy infrastructure, has launched its second fund investing in clean energy infrastructure projects in Europe.

Glennmont said that €200 million has been committed at first close by a combination of both new and existing investors from its first fund. The life of the new fund is ten years and it has a target size of up to €450 million.

“Clean energy infrastructure is a highly-attractive asset class for those investors looking for lower-risk assets simultaneously offering wealth protection, consistent yield and capital value appreciation,” said Joost Bergsma, Glennmont managing partner.

Glennmont was founded earlier this year following a spin-off of BNP Paribas Clean Energy Partners. The firm’s approach is to raise long-term capital to invest in alternative power generation projects focusing on proven technologies such as wind, biomass, solar and small-scale hydro.

Glennmont’s first fund has now made investments worth more than €1 billion, the firm said.