Verdian’s current pipeline already has 800MW of capacity sourced both in-house and
from acquisitions at “ready to build” phase
Glennmont Partners from Nuveen (“Glennmont”), one of Europe’s leading clean energy fund managers, has launched
Verdian Power (“Verdian”), a new independent power producer (IPP). Veridian has been created with a focus on
designing, building and operating solar photovoltaic and wind power plants, incorporating storage and hybridisation
technologies, as well as distributed generation projects, in European markets. Verdian projects will be located mainly in
Italy and Spain although the IPP is also planning to have presence in other markets.
Verdian plans to reach an installed capacity of 3GW in Italy, Spain and other European countries. The firm already has
800MW in its current pipeline, coming from in-house developments and from projects acquired at “ready to build”
phase. The first solar photovoltaic projects will begin its construction in 2024 and could be operational by the end of
2025 in Italy and Spain.
The company’s main objective is the production of 100% renewable energy to move towards a net-zero future and
contribute to Europe’s energy independence. Verdian Power’starget is to achieve an installed capacity of 3GW by 2026,
whichwould be capable ofsupplying the annual household electricity needs of almost 3 million people. The clean energy
produced by Verdian Power annually will avoid the emission of 1million tonnes of carbon dioxide equivalent (CO2e) per
Moving towards a net-zero future and driving Europe’s energy independence
The local production of reliable and affordable solar photovoltaic and wind power will help our society to move towards
a net-zero future and avoid the import of fossil fuelssuch as natural gas from third countries. This will enhance Europe’s
energy independence and security of supply, as well as improving environmental sustainability.
For example, the energy produced by the whole portfolio of Verdian Power (3GW) willsave the use of almost 983 million
m3 per year of natural gas that would have been consumed by combined cycle gas turbine (CCGT) plants to generate
the same amount of energy. In addition, Verdian Power estimates that it will create 8.300 direct and indirect jobs by
2026, from the construction of its current 800MW pipeline.
Verdian will form a key part of Glennmont’s Clean Energy Fund IV portfolio of investments. Its multidisciplinary team
will be based in Barcelona and will coordinate with country teams across different European countries to carry out the
management and implementation of energy projects.
Working to ensure global and local development and sustainability
Glennmont Partners Co-Founder and Board Member of Verdian, Scott Lawrence, said:
““Glennmont are pleased to launch Verdian – a venture that not only demonstratesthe enduring appetite for renewables
investment in Europe, but also represents a future-proofed approach to clean energy generation”.
“The combination of established renewables technologies with hybridization and storage capacity in particular, is a
recognition of the importance of increasing control over intermittency and grid fluctuations, and provides a further
means of ensuring safe investment with potential for consistent returns.”
Jordi Francesch, Head of Asset Management & Chief Risk Officer of Glennmont Partners, added:
“Through the expertise we have built up over the last few years and by leveraging the latest technologies to increase
efficiency in our value chain, we are poised to meet all the demand we have already identified in key markets such as
Italy and Spain. Furthermore, we will do so through a completely collaborative approach with the communities in which
Verdian will operate, putting our utmost effort into making a decisive contribution to local socio-economic development
and the improvement of global environmental sustainability”.
For media enquiries about Glennmont Partners from Nuveen:
Orlando Wind-Cowie (Nuveen Infrastructure)
+44 (0) 7707 985 967
For media enquiries about Verdian Power:
Ramon Torné – LLYC
+34 638 681 985
About Glennmont Partners from Nuveen:
Glennmont Partners from Nuveen is a leading infrastructure equity firm that has been at the forefront of clean energy
investments for over a decade. It is owned by Nuveen, which manages $1.3 trillion in assets on behalf of institutions
and individuals around the world. Glennmont is one of Europe’slargestspecialist renewable energy fund managers with
approximately €2 billion invested in over 30 clean power projects such as wind farms, solar photovoltaic and biomass
that together produce more than 1,500 MW of energy across the European Union.
Glennmont Partners is a trading name of Clean Energy Partners LLP and Glennmont Asset Management Limited, both
of which are authorised and regulated by the Financial Conduct Authority.
For further information, visit www.glennmont.com
Follow Glennmont on twitter: @glennmont
About Verdian Power:
Verdian Power is an independent power producer (IPP) that designs, constructs and operates renewable energy
projects. The main aim of Verdian is to generate a positive social and environmental impact on local communities
through solar photovoltaic and wind power plants, incorporating storage and hybridisation technologies in several
markets in Europe, including Italy and Spain, as well as distributed generation projects.
Verdian is a business focused on sustainability and efficiency, with a compact and highly motivated team. Its DNA is
based on the production of 100% green electricity through real, tangible projects. It expects to reach a total installed
power of 3 GW, generating employment and growth in the communities where its projects are built. Each of those
projects will be scrupulously designed to ensure that it goes the extra mile in environmental, social and corporate
governance (ESG) policies and to support biodiversity, acting ethically in every aspect of Verdian Power’s business.
The company is part of the Clean Energy Fund IV portfolio from Glennmont Partners, one of Europe’s largest renewable
energy fund managers. Glennmont Partners is owned by Nuveen, which manages $1.3 trillion in assets on behalf of
institutions and individuals around the world. Nuveen is part of TIAA, an institution with a long-term, sustainable and
responsible investment philosophy, with the aim of offering stable returns to its final beneficiaries. This institution was
created to offer a sustainable retirement system for teachers in the USA and today is a leader in serving the financial
needs of people in academic, government, medical, cultural and other non-profit fields.
As a founding partner of Glennmont Partners from Nuveen, Scott Lawrence is the Board Member of the project, along
with Jordi Francesch, Head of Asset Management & Chief Risk Officer of Glennmont Partners. Francesc Filiberto, Solar
Development Manager at Glennmont Partners, holds the position of interim Managing Director.
For further information, visit www.verdianpower.com
Follow Verdian on LinkedIn: @VerdianPower
This communication is directed at persons having professional experience of participating in unregulated schemes. Persons who do
not have professional experience in participating in unregulated schemesshould not rely on it. Glennmont Partners is a trading name
of Clean Energy Partners LLP and Glennmont Asset Management Limited both of which are authorised and regulated by the Financial
Conduct Authority. Glennmont Clean Energy Fund Europe III is closed to new investment