Siemens Gamesa to renew Glennmont Partners’ O&M service agreement for 255 MW in Italy for 10 years

Siemens Gamesa Renewable Energy (SGRE) reached an agreement with Glennmont Partners for the renewal of the O&M service agreement for its SGRE fleet, consisting of 236 wind turbines – 189 units of G52-850 kW, 9 G80-2.0 MW turbines, 33 units of G87-2.0 MW and 5 G90-2.0 MW turbines – with a total output capacity of 254.7 MW. These turbines are located in several wind farms in the south of Italy.*

The renewal of the O&M agreement comprises new services and different upgrades, reducing the cost of energy and providing greater control over operation and maintenance costs. Under the contract, SGRE will also operate these turbines and provide full scope maintenance services for ten years.

SGRE has 2.219 MW installed in Italy and maintains 64 wind farms with a capacity of 1.667 MW, which accounts for a 75% of the total capacity installed. SGRE’s Service business unit maintains nearly 57 GW (onshore and offshore) in 62 countries.

“We are very pleased that we have reached such an important agreement, not only for its significant size, but also because it demonstrates our clients trust Siemens Gamesa and our expertise in securing the maintenance of their fleets. It also increases our footprint in such an important and competitive market as Italy,” said John Paul Larrañeta, Service CEO of Siemens Gamesa’s Southern Europe and Africa region.

Glennmont Partners’ total portfolio of renewable power plant constitutes nearly 1GW of mixed generation technologies across Europe, and its strategy is to expand this significantly over the coming years. Partner Francesco Cacciabue said yesterday: “We are delighted to cement our relationship with Siemens Gamesa through this agreement. It is an example of the strategic alliances that will allow us to achieve growth while managing risk and providing value to our investors”.

*The order was signed in Q2 of fiscal year 2019.

Siemens Gamesa is a global leader in the wind power industry, with a strong presence in all facets of the business: offshore, onshore and services. Through its advanced digital capabilities, the company offers one of the broadest product portfolios in the industry as well as industry-leading service solutions, helping to make clean energy more affordable and reliable. With 90 GW installed worldwide, Siemens Gamesa manufactures, installs and maintains wind turbines, both onshore and offshore. Its backlog stands at €23 billion. The company is headquartered in Spain and listed on the Spanish stock exchange (traded in the Ibex-35 index).

Glennmont Partners is one of Europe’s largest fund managers focusing exclusively on investment in clean energy infrastructure. It raises long-term capital to invest in alternative power generation projects, such as wind farms, biomass power stations, solar parks and small- scale hydro power plants. Its carefully selected, risk managed investments deliver sustained performance and predictable returns over periods of 10 years or more. Formerly BNP Paribas Clean Energy Partners, the team has been working together since 2007, and has established a reputation for making intelligent, long-term investments that deliver absolute returns.