New Energy

Glennmont launches IPP to develop 1GW solar in Southern Europe

Seetao 2021.09.17
  • BNZ plans to achieve 1GW of installed capacity in Italy, Portugal and Spain by 2024. The initial 350MW is in the late development stage.

Glennmont Partners, a leading clean energy fund manager from Nuveen, established a new independent power generation company (IPP) BNZ to develop, construct and operate solar photovoltaic (PV) projects in Southern Europe.

BNZ plans to achieve 1GW of installed capacity in Italy, Portugal and Spain by 2024, of which the initial 350MW is in the late development stage of Glennmont. Glennmont said that the company's main goal is to produce 100% renewable energy to help achieve a low-carbon future. It will mainly focus on solar photovoltaic power generation and may expand to other technologies such as battery storage and hydrogen in the future.

The new IPP BNZ will become an important part of the Glennmont Clean Energy Fund III portfolio and has already obtained the authorization to build its first solar photovoltaic power plant in these markets. Scott Lawrence, co-founder of Glennmont Partners and director of BNZ, said: “The launch of BNZ represents the latest development of Glennmont’s expansion in Southern Europe. Italy, Portugal and Spain are BNZ’s priority markets and have strong power in the generation of renewable technologies such as solar photovoltaics. Growth potential. Our team’s experience in operations and asset management in these regions will ensure that we can identify and ensure investment value."

"BNZ is a company tailored to the needs of investors to help combat climate change and ensure compliance with the most stringent ESG standards, while providing a long-term vision with the potential for stable returns and predictable investment returns. In this sense, Glenn Monte’s Clean Energy Fund III and BNZ comply with UNPRI in addition to the UN Sustainable Development Goals."

Keywords: new energy, overseas engineering, international engineering construction, foreign engineering construction news

In March 2021, Glennmont was acquired by Nuveen, a global asset management company valued at US$1.3 trillion, which will enable Glennmont to better meet the global demand for all major technologies (offshore wind, onshore wind and solar photovoltaics) in its core European markets. The growing demand for environmental protection investment as well as the entire Asia-Pacific region and the United States, which also aims to provide an alternative source of attractive returns.Editor/XuNing