Glennmont Unveils IPP to Create 1GW Solar Power in Southern Europe

• Clean energy fund manager Glennmont Partners from Nuveen has actually released BNZ, a new independent power producer company (IPP), to create, build and run solar photovoltaic (PV) projects in Southern Europe.
• BNZ intends to get to an installed ability of 1GW throughout Italy, Portugal and also Spain by 2024, of which a first 350MW are in innovative growth stage by Glennmont.

Leading clean energy fund supervisor Glennmont Partners from Nuveen has actually launched BNZ, a brand-new independent power producer company (IPP), to develop, build and run solar photovoltaic or pv (PV) projects in Southern Europe.

BNZ prepares to reach a mounted capability of 1GW across Italy, Portugal and also Spain by 2024, of which an initial 350MW remain in advanced development stage by Glennmont.

The company's primary objective is the manufacturing of 100% renewable energy to aid accomplish a reduced carbon future which will see it primarily concentrate on solar PV power generation, with the potential for future growth into other technologies such as battery storage and hydrogen, said Glennmont.

BNZ, the brand-new IPP, will create a crucial part of Glennmont's Clean Energy Fund III portfolio of investments and also has actually currently acquired authorisations to develop its first solar PV energy plants in these markets.

Glennmont Partners Co-Founder and Director of BNZ Scott Lawrence, claimed: "The launch of BNZ represents the most up to date advancement in Glennmont's expansion in Southern Europe. Italy, Portugal as well as Spain are priority markets for BNZ with solid development possibility in the generation of eco-friendly innovations such as solar PV. Our teams experience in operations and also possession management in these geographies will certainly ensure we are able to identify and secure worth from financial investments."

" BNZ is a service venture customized to the demands of our financiers, aiding to take on climate adjustment and also ensuring conformity with the strictest ESG requirements, while offering a long-lasting vision with the potential for steady returns and predictable returns on investments. In this sense, Glennmont's Clean Energy Fund III as well as BNZ stick to the UNPRI along with abiding by the UN SDGs."

In March 2021, Glennmont was obtained by Nuveen, the $1.3 tn international asset manager, which will much better make it possible for Glennmont to fulfill boosting global need for eco liable financial investments in all major technologies-- offshore wind, onshore wind and solar PV-- in their core European markets along with across Asia Pacific and also the United States, that also aim to offer alternate resources of eye-catching returns.