Glennmont Partners and PGGM’s Infrastructure Fund have set up an independent clean energy asset manager to develop, build and operate assets across Italy.
Glennmont and PGGM said Green Energy Management Services (GEMS) will manage their Italian renewable energy assets and provide services to third party clients.
GEMS currently has 400MW of wind assets under its management.
Francesco Cacciabue, partner and CFO at Glennmont Partners, said: “We are pleased to be establishing this joint venture with PGGM that will bring together our team’s unique blend of expertise in operations and asset management in the Italian market.
“As one of the biggest operators in the sector, we see excellent market opportunities for service providers in clean energy infrastructure.”
Martijn Verwoest, head of energy and utilities at PGGM infrastructure, said: “We are delighted with the establishment of GEMS. The company is leveraging its depth in experience as developers and asset managers to build a portfolio of service contracts across the Italian clean energy market.”
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