Glennmont Partners has added a portfolio of seven solar photovoltaic projects in Southern Italy to its European portfolio.
The Nuveen-owned infrastructure manager said it has acquired the projects, located in the Basilicata region, expected to provide 65MW of installed capacity once operational.
Glennmont said the portfolio also comes with the “significant additional benefit of being able to participate in the Italian Gestore Servici Energetici’s (GSE) auctions for feed-in-tariffs”, due to it being developed on industrial land.
Francesco Cacciabue, CFO at Glennmont Partners said: “Glennmont is pleased to announce the acquisition of this portfolio, which will provide clean, low-cost power in Southern Italy and make a significant contribution to the country’s decarbonisation goals.
“Our team has over a decade of experience investing in the Italian renewables market. This means we are well-placed to maximise the value from these projects which are eligible for the GSE auctions, while their size and close proximity to one another gives significant scope for capex and opex optimisations – helping to meet the demands from our investors.”
Back in February, Glennmont entered the Swedish market with a 47MW onshore wind portfolio investment. The deal marked the company’s second investment in the Nordics after the Piiparinmäki wind farm in Finland. The manager also recently made its debut US and South Korea deals.
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