Emeren Group and Glenmont signed a co-development agreement for the development of 155 MW (up to 1.24 GWh of capacity) of battery energy storage projects in two regions of southern Italy. The partnership will involve Glennmont and Emeren jointly developing two stand-alone battery storage projects in the Campania region of southern Italy.

As part of the transaction, Glennmont and Emeren will co-develop a project portfolio in Campania and Puglia with a combined capacity exceeding 150 MWp. These projects are scheduled to enter the construction stage in late 2025 and begin operations in early 2027. 

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Yumin Liu, Chief Executive Officer at Emeren Group, commented, "Teaming up with Glennmont Partners represents a significant move in expanding our project portfolio in Italy, especially in the realm of battery storage capacity. Collaborating with one of Europe's largest specialist renewable energy fund managers aligns well with Emeren's long-term strategy, as we trust their expertise to drive successful project development, thus advancing our shared goal of a greener future." 

Francesco Cacciabue, partner and CFO at Glennmont Partners, commented on the partnership, stating that they are delighted to partner with Emeren Group in developing battery storage capacity in southern Italy. He believes that these projects have the potential to make a significant impact on renewable energy investment goals in the region and beyond.

With advancements in battery storage technology, Cacciabue is confident that this new portfolio will not only generate strong returns for investors but also enhance the resilience of the renewable energy sector on a larger scale.

Project Objective

Strengthening Renewable Energy Infrastructure: The partnership aims to strengthen the renewable energy infrastructure in Italy by developing two stand-alone battery storage projects in the Campania region. These projects will provide a reliable and efficient energy storage solution, thereby enhancing the resilience of the renewable energy sector.

Advancing Technological Innovation: The partnership will leverage advanced battery storage technology to optimize energy storage and distribution. This initiative represents a significant advancement in the application of cutting-edge technology in the renewable energy sector.

Investor Returns: Glennmont Partners anticipates that the new portfolio will generate strong returns for investors. This expectation underscores the economic viability of investing in renewable energy projects.

About Emeren Group

Emeren Group is a leading global solar project developer, owner, and operator with a pipeline of projects and IPP assets totaling over 3 GW, as well as a storage pipeline of over 10 GWh across Europe, North America, and Asia. The company focuses on solar power project development, construction management, and project financing services with local professional teams across multiple countries.

About Glennmont Partners from Nuveen

Glennmont Partners from Nuveen is a leading infrastructure equity firm that has been at the forefront of clean energy investments for over a decade. The company that owns it is Nuveen, which oversees USD 1.3 trillion in assets on behalf of organizations and people all over the world.

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