OWC has acted as lender’s technical advisor to Glennmont Partners LLP in conjunction with a EUR 45 million debt financing package to fund Hexicon’s floating wind development activities.
OWC’s scope of work included technical due diligence of Hexicon’s floating offshore wind project portfolio and the funding recipient’s organisational set-up.
Glennmont Partners is one of Europe’s largest fund managers focusing exclusively on investment in clean energy infrastructure. The company 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.
Hexicon is an early project-developer in floating wind, opening new markets in deepwater areas, and a technology provider with a patented floating wind design – TwinWind™.
The EUR 45 million debt financing agreement is a solution which provides for the specific needs of Hexicon as a growing developer, while providing Glennmont’s institutional investors with a foothold in the critical and rapidly growing floating offshore wind sector.
The majority of the funds will be utilised to further develop Hexicon’s projects across the world, including:
“Hexicon have an exciting pipeline of floating offshore wind projects. We are delighted to have played a small part in helping to progress some of these projects whilst simultaneously protecting the financial interests of Glennmont Partners.”Katherine Phillips, managing director of OWC
At OWC, we provide specialist renewable energy consultancy that helps develop and deliver projects in offshore wind, onshore wind, floating and fixed solar PV, energy storage and hydrogen. We work with developers and investors in all global markets.