Tages in exclusive talks to acquire Glennmont's Italian solar plants

Glennmont Partners has entered into agreements to sell three operational, ground-mounted solar PV projects located in Veneto and Lazio, Italy, totaling 85.4MW, to Tages Capital.

The three solar PV projects, Enersol (48.0MWp), Megasol (13.2 MWp) and Phenix (24.2 MWp) projects, started operations in 2011 and are part of a combined deal in line with the divestment strategy for the first Fund of Glennmont Partners, one of Europe’s largest fund managers focusing exclusively on investment in clean energy infrastructure.

Following the Portuguese solar PV and French wind assets’ sale, the signing of this transaction is a further step towards the full divestment of Glennmont Clean Energy Fund Europe I (“Fund”), which was fully invested in 14 projects across five geographies. The Fund combined investments in onshore wind, solar PV and bioenergy markets. The deal helps to sustain Glennmont’s recent momentum with investors following the acquisition of Project Goudelancourt in October, a 16.8MW wind farm in France and the sale of a portfolio of five French onshore wind farms for €37m earlier this month.

With this latest acquisition, Tages Capital Sgr, through its infrastructure funds Tages Helios entirely dedicated to the photovoltaic sector, and Tages Helios II, which was launched at the end of July 2018 and has already raised €148m, is now the second largest player in the PV sector in Italy for total power capacity and assets for 309 MW.