Skip to main content
TOOLS
Login to access your documents and resources.
Confirm your location
location select
language select
News

Glennmont Partners and Vattenfall agree Hedging Framework for Finnish onshore wind farm

intersecting orange lines design

Glennmont Partners from Nuveen (Glennmont), one of Europe’s leading clean energy investors, have signed a Hedging Framework Agreement with Swedish utility company Vattenfall for their Piiparinmäki wind farm.

An original hedging framework was agreed between Glennmont Partners from Nuveen and Vattenfall in Q1 of 2023, allowing the Piiparinmäki wind farm to enter short term hedging transactions based on Futures Contract prices.

The hedging transaction with Vattenfall was agreed in line with Glennmont’s Energy Portfolio Management strategy, which allows them to proactively manage the merchant exposure of their renewable energy assets.

Piiparinmäki is a 211 MW wind farm in central Finland. It is Finland’s largest operational onshore wind farm1 and one of the largest unsubsidised onshore wind farms in Europe.

Joost Bergsma, CEO of Glennmont Partners, said of the transaction:

“We are pleased to announce this hedging framework agreement with Vattenfall – a trusted utility provider and market leader in renewable energy.  The agreement will ensure we lock-in anticipated returns from the Piiparinmäki project and provide security for our investors.

“By embracing proactive risk management and implementing hedging strategies, Glennmont aims to ensure the long-term stability and profitability of our Piiparinmäki project and our wider portfolio. These initiatives reflect our commitment to providing sustainable and reliable energy solutions in an ever-changing market landscape, as well as our unwavering commitment to innovation whilst seeking returns for our investors.”

Laurent Cheval, Head of Nordic Trading at Vattenfall, said:

“Vattenfall is pleased to sign this hedging framework agreement, providing new possibilities for investors such as Glennmont Partners to manage the market risk of their renewable assets, and we look forward to continue working  with the Glennmont team.”

Explore more news

Press office
Nuveen n logo on a blue background
All press enquiries

1As of July 2023; source: Statista

Important information on risk

Past performance is no guarantee of future results. All investments carry a certain degree of risk, including the possible loss of principal, and there is no assurance that an investment will provide positive performance over any period of time. Certain products and services may not be available to all entities or persons. There is no guarantee that investment objectives will be achieved.

Investors should be aware that alternative investments are speculative, subject to substantial risks including the risks associated with limited liquidity, the potential use of leverage, potential short sales and concentrated investments and may involve complex tax structures and investment strategies. Alternative investments may be illiquid, there may be no liquid secondary market or ready purchasers for such securities, they may not be required to provide periodic pricing or valuation information to investors, there may be delays in distributing tax information to investors, they are not subject to the same regulatory requirements as other types of pooled investment vehicles, and they may be subject to high fees and expenses, which will reduce profits.

As an asset class, real assets are less developed, more illiquid, and less transparent compared to traditional asset classes. Real asset investments will be subject to risks generally associated with the ownership of real estate-related assets and foreign investing, including changes in economic conditions, currency values, environmental risks, the cost of and ability to obtain insurance, and risks related to leasing of properties. 

Responsible investing incorporates Environmental Social Governance (ESG) factors that may affect exposure to issuers, sectors, industries, limiting the type and number of investment opportunities available, which could result in excluding investments that perform well.

Back to Top