Glennmont Partners from Nuveen (“Glennmont”), one of the world’s largest fund managers investing inclean energy, and Exus Renewables (“Exus”), independent renewables asset managementand development firm, have agreed to co-develop c.800MW of battery storage projects in southern Italy, with each company co-developing a portfolio ofc.400MW of projects.
The deal will see Glennmont and Exus commence a series of standalone battery energy storage system (BESS) projects across the Puglia region of Italy. These will constitute four projects each for both Glennmont and Exus, each with a total capacity of c.100MW.
The developer for all projects will be an Italian developer specialising in battery storage systems. Construction on the first projects in the portfolio is planned to begin in Q4 2026.
Francesco Cacciabue, CFO atGlennmont Partners, commented on the announcement:
“As Italy continues its renewable energy transition, battery technology stands to play a hugely important role in supporting established clean energy generators, through itsability to manage intermittency issues and associated price fluctuations.
“The quality of existing battery storage technologies means they are now capable of fulfilling this role,and they will be a critical enabler as Italy and Europe look to meet their cleanenergy targets.
“As a result, we’re pleased to be working with our Italian developer on this project and are confident this new portfolio will provide strong returns to investors, while also supporting more traditional renewables projects in the region.”
Alfonso Cebrián, Head of International Business Development at Exus, said:
“This deal marks our first step into expanding our presence in the Italian market, signalling our intent to establish a robust development platform in Italy that is poised to drive future growth and innovation in the region.”
Natalia Ordoñez, Head of EU Development & Construction at Exus, added: “Our meticulous approach to developing these projects, with land rights secured and grid interconnection ensured, is part of our broader vision to establish a robust pipeline of BESS across Europe.”
This latest move in energy storage for Glennmont comes after their entry into the market in 2023 with the announcement of the construction of a 30MW BESS project in Finland. This project will use Alfen’s top of the line The Battery Elements battery storage system built in a modular design, and capable of storing 41MWh of energy.
