Glennmont Partners, part of Nuveen Infrastructure, has acquired a 65-megawatt portfolio of seven solar PV projects in southern Italy. Financial terms were not disclosed.
Located in the Basilicata region of Italy, the projects will be built in two clusters, with the first expected to begin construction in early 2024 and the other in the second half of 2024. The projects are expected to be commissioned in the first half of 2025 and the second half of 2026, respectively, and will produce 115,000 megawatt-hours upon construction.
The transaction is part of Glennmont’s fourth clean-energy investment strategy and supplements the plans of its independent power producer, BNZ, to develop 1.5 gigawatts of renewable-power generation in Southern Europe.