Deal grows Trailstone’s global footprint and brings total assets managed in Europe to over 4 GW
09/05/2023 — BERLIN — (BUSINESS WIRE)
Trailstone Group (“Trailstone”), a global energy and technology company, announced today that it has signed a route to market Power Purchase Agreement (PPA) with Glennmont Partners from Nuveen (“Glennmont”), one of the world’s largest renewable energy investment managers, for 84 MW of wind capacity in Italy. This deal is the latest in a longstanding relationship between Trailstone and Glennmont that began in 2016. It brings the total wind capacity being managed by Trailstone in Italy in 2023 to over 500 MW and the total number of renewable assets being managed by Trailstone across Europe to over 4.3 GWs.
Through this transaction, Trailstone will utilize its market access, expertise, and proprietary renewables optimization platform to reduce balancing risk and maximize trading revenues for Glennmont’s wind generation assets in Italy. Route to market PPAs offered by Trailstone allow owners of power generation, such as Glennmont, to access the forward power markets, generate revenues from the balancing mechanism and ancillary services markets, access dispatch service and meet minimum revenue guarantees.
Ante Pogacic, Global Head of Power and Renewables at Trailstone said: “Trailstone is proud to continue our partnership with Glennmont to provide tech-enabled risk management and asset optimization solutions for their wind assets in Italy. Deals such as this are necessary to accelerate the clean energy transition by reducing the growing market risks faced by owners of wind and solar assets.”
Francesco Cacciabue, Partner at Glennmont said: “We’re pleased to continue our longstanding relationship with Trailstone and work with their expert team to optimize our wind portfolio in Italy. This route to market PPA will ensure that our carefully selected, risk-managed investments deliver sustained performance and reliable returns.”
Trailstone’s proprietary optimization platform uses robust weather models, data analytics and Artificial Intelligence (AI) to better predict renewable energy supply and optimize returns for asset owners. Trailstone’s experienced risk management and trading teams use the platform to manage imbalances caused by weather related production risks, lowering the barriers to entry for asset developers and enabling the deployment of more wind and solar generation. At the grid level, improving the effectiveness and efficiency with which renewables are managed enables more assets to connect to the grid, lowering reserve requirements and costs, all of which provide a better environment for the end consumer.
Trailstone is a global renewable energy trading and asset management firm that provides risk management and energy optimization to improve production and financial returns. The company offers a fully automated end-to-end renewable power management platform, backed by a successful track record in energy trading. Trailstone’s proprietary technology leverages data analytics and meteorology to offer robust modeling, forecasting and trading capabilities to its clients. Trailstone was founded in April 2013. To date, Trailstone has helped optimize more than 18,000 MWs of renewable energy assets and operates in 16 countries. Learn more at www.trailstonegroup.com.
About Glennmont Partners from Nuveen
Glennmont Partners from Nuveen is a leading infrastructure equity firm that has been at the forefront of clean energy investments for over a decade. It is owned by Nuveen, which manages $1.3 trillion in assets on behalf of institutions and individuals around the world. Glennmont is one of Europe’s largest specialist renewable energy fund managers with approximately €2 billion invested in over 30 clean power projects such as wind farms, solar photovoltaic and biomass that together produce more than 1,500MW of energy across the European Union. (www.glennmont.com)
Glennmont Partners is a trading name of Clean Energy Partners LLP and Glennmont Asset Management Limited, both of which are authorized and regulated by the Financial Conduct Authority.
For further information, visit www.glennmont.com
Follow Glennmont on twitter: @glennmont
Trailstone, Rebecca Collins
Glennmont, Orlando Wind-Cowie
+44 (0) 7707 985 967