Glennmont scoops 65MW Italian PV portfolio
- Seven projects all located in the Basilicata area are due online in H1 2025 as well as H2 2026
Glennmont Partners (part of Nuveen Infrastructure) has actually obtained a portfolio of seven solar projects in southern Italy, amounting to 65MW of capacity.
The projects, situated in the Basilicata region of Italy, will be built in 2 clusters, with the very first anticipated to begin construction in very early 2024 as well as the other in the 2nd fifty percent of 2024.
The projects are anticipated to be commissioned in the initial half of 2025 and also the 2nd fifty percent of 2026 specifically.
The portfolio also comes with the "substantial fringe benefit" of being able to take part in Italy's Gestore Servici Energetici (GSE) auctions for feed-in-tariffs, as a result of the projects being sited on industrial land.
Francesco Cacciabue, Chief Financial Officer at Glennmont Partners, claimed: "Glennmont is pleased to introduce the purchase of this portfolio, which will certainly offer clean, low-cost power in southerly Italy and make a substantial payment to the country's decarbonisation goals.
" Our team has more than a decade of experience investing in the Italian renewables market.
" This indicates we are well-placed to maximise the value from these projects which are eligible for the GSE auctions, while their size and also close closeness to each other provides significant scope for CapEx and OpEx optimizations-- assisting to satisfy the demands from our capitalists."
The purchase is part of Glennmont's 4th clean energy investment strategy and supplements the strategies of its independent power producer, BNZ, to develop 1.5 GW of eco-friendly power generation in Southern Europe.
Green Horse, Kiwa Moroni, Grant Thornton as well as Cisternino, Desiderio & Partners acted specifically as the legal, technological, monetary and also tax obligation experts for Glennmont for the purchase.
