STAMFORD, Conn. - Emeren Group Ltd (NYSE:SOL), a global solar project developer, has entered into a co-development agreement with Glennmont Partners from Nuveen to establish 155 MW of battery storage projects in Southern Italy. This collaboration marks a strategic move to enhance renewable energy storage capacity in the region.
The partnership focuses on the joint development of two stand-alone battery storage projects in the Campania region. Additionally, a project portfolio in Campania and Puglia with a combined capacity exceeding 150 MWp is part of the agreement. These projects are expected to commence construction in late 2025 and are slated to become operational in early 2027.
Yumin Liu, CEO of Emeren Group, expressed confidence in the partnership with Glennmont, one of Europe's largest specialist renewable energy fund managers. Liu emphasized the alignment with Emeren's long-term strategy and the potential to drive successful project development towards a greener future.
Francesco Cacciabue, Partner and CFO at Glennmont Partners, echoed the sentiment, highlighting the anticipated impact on renewable energy investments and the enhancement of sector resilience due to advancements in battery storage technology.
Emeren Group is a significant player in the solar project sector, with a project pipeline and IPP assets totaling over 3 GW and a storage pipeline of over 10 GWh across various continents. The company specializes in solar power project development, construction management, and project financing services.
Glennmont Partners, part of Nuveen, boasts over a decade of experience in clean energy investments and manages assets worth over €4 billion. The firm has a portfolio of 113 clean power projects, including wind farms and solar photovoltaic, producing 6.7 GW of energy within the European Union.
The information for this article is based on a press release statement from Emeren Group.
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