ENERGY STORAGE

Emeren & Glennmont to co-develop up to 1.24GWh of Italian storage

March 15, 2024

Solar project developer Emeren Group and Glennmont Partners from Nuveen have entered a co-development agreement for 155 MW of battery storage projects – with a capacity of up to 1.24GWh – in two regions of southern Italy.

The partners will jointly develop a project portfolio in Campania and Puglia with a combined capacity exceeding 150 MWp. The projects are scheduled to enter the construction stage in late 2025 and begin operations in early 2027.

Yumin Liu, CEO at Emeren Group, said: “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, added: “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.”