September 22 (Renewables Now) - Independent power producer (IPP) BNZ, part of British fund manager Glennmont Partners, on Thursday announced the official start of construction activities at three solar parks in Italy totalling 135 MWp.
The plants will be installed near Viterbo and Montalto di Castro in the region of Lazio. Once in operation, their combined output will cover around 60% of the annual electricity consumption of the two cities.
The projects will be implemented as part of BNZ’s goal for 500 MWp of renewables in Italy by end-2024, amid a broader plan to add over 1.7 GW of solar capacity in Europe, mostly in Italy, Spain, and Portugal, by the end of 2026.
"The energy transition offers significant opportunities to Italy, both in terms of generating pure renewable energy, the creation of wealth to local communities and jobs associated with it,” said Jordi Francesch, global head of asset management at Glennmont Partners.
BNZ noted that the development of its platform will be supported by a EUR-350-million (USD 373.8m) financing commitment from its parent Glennmont.
(EUR 1.0 = USD 1.068)