Solar independent power producer (IPP) BNZ has commenced construction on three solar projects with a combined capacity of 135MW in the Lazio region of Italy, near Viterbo and Montalto di Castro. These projects hold the potential to meet nearly 60% of the annual electricity demand for both Montalto di Castro and Viterbo.
BNZ, founded in 2021 by Glennmont Partners, a subsidiary of Nuveen boasting $1.1 trillion in assets under management as of June 30, 2023, is making significant strides in the renewable energy sector. The company's ambitious plans involve deploying an aggregate portfolio of over 1.7GW of solar photovoltaic (PV) capacity across southern Europe, encompassing Italy, Spain, and Portugal, by the close of 2026.
See also: Glennmont and Trailstone Group sign PPA for 84MW of wind capacity in Italy
Glennmont Partners, a prominent renewable energy fund manager in Europe, with approximately €2 billion invested across more than 30 clean power projects, including wind farms, solar photovoltaic installations, and biomass facilities, collectively generating over 1500MW of energy within the European Union.
The investment commitment from Glennmont Partners towards the entire BNZ platform stands at €350 million. This signifies a strong dedication to sustainable energy initiatives.
Luis Selva, Managing Director of BNZ, expressed, “Today's event underscores our firm commitment to furthering renewable energy development in Italy, a nation ripe with significant potential in this sector. Our overarching goal is to be a responsible contributor to the communities in which we operate, fostering employment opportunities, social and environmental progress, and nurturing enduring partnerships for long-term success.”
