Glennmont starts construction of Spanish PV portfolio

• Two solar projects in the Cádiz region totalling 74MW are the initial to get in the building phase

Glennmont Partners has started building of a 473MW solar portfolio in southern Spain via its independent power producer BNZ.

Initially to enter construction are two solar projects in the Cádiz area, completing 74MW.

Spanish multidisciplinary engineering business Grupotec will build these plants.

Project-specific engineering, procurement and building and construction (EPC) contracts have been signed for the Cádiz cluster in between Grupotec as well as Glennmont's IPP, BNZ.

The staying 11 projects that will certainly be taken care of by BNZ proceed their development phase with Grupotec and are also nearing building and construction stage.

BNZ continues with its plan to release an aggregate portfolio of more than 1.5 GW of solar PV throughout southerly Europe by end of 2024.

Francesco Cacciabue, CFO and co-founder at Glennmont Partners, claimed: "We are delighted that our companions at Grupotec prepare to begin developing our first project in Cádiz.

" The finalizing of this EPC shows our solid and enduring commitment to driving the energy transition in Spain and across Europe, and also will certainly constitute a core element of Southern Spain's power mix.

" This likewise marks a further effective landmark in Glennmont's 3rd tidy power investment platform, as we continue to give both worth and safety and security through the sustainable possessions that we purchase."

Cesar Moreyra, CEO of Grupotec, claimed: "Our relationship with Glennmont is enhanced every day, with whom we want to jointly accomplish numerous projects to assist attain the decrease exhaust objectives that as a company we have actually set for ourselves."