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Developer will sell the 19 projects that total 153MW in phases to Nuveen Infrastructure
Greenvolt Group has reached an agreement with Nuveen Infrastructure for the sale of a 153MW solar portfolio distributed across various regions of Italy.
The deal, worth €18.7m, is for a total of 19 projects which are expected to reach ready-to-build between 2024 and 2025.
The sites will be sold in phases and they have been fully developed by Greenvolt on a standalone basis.
“At the Greenvolt Group, we are experts in promoting the development of projects until they are ready to be built, where our advantage compared to other players in the renewable energy market is greater”, said Greenvolt chief executive Joao Manso Neto.
“This advantage is demonstrated by the interest we saw towards these assets in Italy, which led us to close this agreement with Glennmont Partners," he added.
Nuveen Infrastructures global head of clean energy investments Francesco Cacciabue said: "Investors in our Verdian IPP will benefit from the acquisition of assets under short-term construction in Italy, strengthening the IPP’s portfolio.
“More widely, the purchase of these projects reinforces our renewable energy portfolio which currently exceeds 7.6GW distributed across Europe, USA and Asia."
The sale, coordinated and assisted on multiple fronts by Green Horse, is part of the strategy adopted by the Greenvolt Group to develop solar projects that are subsequently sold.
Out of the overall Group pipeline, which reached 8.6GW at the end of first quarter 2024, the majority of sites, in the range of 70%-80%, are expected to be sold.
The objective for this year is to sell more than 500MW. |
