The partnership will involve Glennmont and Emeren jointly developing two stand-alone Battery Storage Projects in the Campania region of Southern Italy
Emeren Group and Glennmont to develop 155MW of battery storage projects in Italy. (Credit: Scott from Pixabay)
Emeren Group Ltd (“Emeren” or the “Company”) (www.emeren.com) (NYSE: SOL), a leading global solar project developer, owner, and operator, announced the successful co-development agreement of 155 MW (up to 1.24GWh of capacity) of Battery Storage Projects in two regions of Southern Italy with Glennmont Partners from Nuveen (“Glennmont”), one of the world’s largest fund managers investing in clean energy.
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.
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: “We are delighted to partner with Emeren Group in developing battery storage capacity in Southern Italy. 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, we believe 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.”
Source: Company Press Release