STAMFORD, Conn., April 23,
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 199 MW (up to 1.59GWh of
capacity) of Battery Storage Projects in two regions of
Southern Italy with Nuveen
Infrastructure, rebranded from Glennmont Partners ("Nuveen"), one
of the world's largest fund managers investing in clean energy. As
previously announced, this agreement marks the final stage in the
portfolio collaboration between Emeren and Nuveen, achieving a
total power capacity of 354 MWp (up to 2.83GWh).
The partnership will involve Nuveen and Emeren jointly
developing two additional stand-alone Battery Storage Projects in
the Apulia region of Southern Italy. These projects are scheduled
to enter the construction stage in mid 2025 and begin operations in
early 2026.
Yumin Liu, Chief Executive
Officer at Emeren Group, commented, "It has been a pleasure
partnering with Nuveen Infrastructure in developing battery storage
projects in Southern Italy
totaling 354 MWp capacity of projects. This agreement demonstrates
the recognition of our capability to develop and build projects to
the highest standards, partnering with one of the world's largest
fund managers investing in clean energy. Italy is one of Emeren's fastest growing
markets in Europe, with a total
solar project pipeline exceeding 750 MWp and a storage pipeline
exceeding 17.1 GWh.
Francesco Cacciabue, Global Head
of Clean Energy Investments at Nuveen Infrastructure, commented,
"It's been fantastic to work on this project with Emeren, which
stands to significantly boost Southern
Italy's battery storage capacity. As the clean energy
transition continues at pace in Apulia and in Europe more widely, projects such as these
will be critical to adding flexibility to the renewables sector
whilst providing clear and consistent returns for investors."
About Emeren Group Ltd.
Emeren Group Ltd (NYSE: SOL), a renewable energy leader,
showcases a comprehensive portfolio of solar projects and
Independent Power Producer (IPP) assets, complemented by a
significant global Battery Energy Storage System (BESS) capacity.
Specializing in the entire solar project lifecycle — from
development through construction to financing — we excel by
leveraging local talent in each market, ensuring our sustainable
energy solutions are at the forefront of efficiency and impact. Our
commitment to enhancing solar power and energy storage underlines
our dedication to innovation, excellence, and environmental
responsibility. For more information, go to www.emeren.com.
About Nuveen Infrastructure
Nuveen Infrastructure, rebranded from
Glennmont Partners, is the infrastructure investment arm of Nuveen,
the investment manager of TIAA with $1.2
trillion in assets under management as of 31 Mar 2024. 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