Glennmont Partners from Nuveen has expanded its pipeline of solar photovoltaic (PV) projects in Central and Southern Spain with the acquisition of a 161-megawatt portfolio, as part of an agreement with Spanish developer Grupotec.
The agreement is a continuation of Glennmont’s 473-megawatt solar acquisition from Grupotec in September 2021 that will see its total solar PV capacity in Spain reach 634 megawatts. Only the 473-megawatt portfolio will be integrated into BNZ, Glennmont’s independent power producer (IPP), launched last year to develop solar across Southern Europe.
The projects are expected to reach the ready-to-build stage in 2022 and 2023.
Grupotec will partner with Glennmont on the construction and operations of the additional 161-megawatt pipeline. The projects will be built using tier 1 solar-technology partners.
Glennmont is undertaking a market-wide purchase-power agreement (PPA) RFP process with European offtakers, where it will look to