STAMFORD, Conn., March 15,
2024 /PRNewswire/ -- Emeren Group Ltd ("Emeren" or
the "Company") (www.emeren.com) (NYSE: SOL), a leading global solar
project developer, owner, and operator, today 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."
About Emeren Group Ltd
Emeren Group Ltd (NYSE: SOL) is a leading global solar project
developer, owner, and operator with a pipeline of projects and IPP
assets totaling over 3 GW, as well as a storage pipeline of over 10
GWh across Europe, North America, and Asia. The Company focuses on solar power
project development, construction management and project financing
services with local professional teams across multiple countries.
For more information, go to www.emeren.com
About Glennmont Partners from
Nuveen
Glennmont Partners from Nuveen is a leading
infrastructure equity firm that has been at the forefront of clean
energy investments for over a decade. It is owned by Nuveen, which
manages $1.3 trillion in
assets on behalf of institutions and individuals around
the world. Glennmont is one of Europe's largest specialist renewable energy
fund managers with over €4 billion AUM and over 113 clean
power projects such as wind farms, solar photovoltaic that together
produce a total of 6.7 GW of energy across the European Union.
Glennmont Partners is a trading name of Clean Energy
Partners LLP and Glennmont Asset Management Limited, both of
which are authorised and regulated by the Financial Conduct
Authority. For further information, visit
www.glennmont.com
About Nuveen Infrastructure
Nuveen Infrastructure is the infrastructure investment arm
of Nuveen, the investment manager of TIAA with $1.1 trillion in assets under management as
of 31 Mar 2023. Nuveen Infrastructure
aims to invest in middle market opportunities across multiple
strategies and sectors, including clean energy, agribusiness,
telecommunications, transportation, and social infrastructure. Our
platform offers a diverse set of vehicles and customized strategies
as well as deep expertise through an extensive operating partner
network.
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SOURCE Emeren