Glennmont completes Italian job

Infrastructure investment manager Glennmont Partners has completed financing to buy an unnamed 60MW wind farm located in the Basilicata region of Italy.

The company said it has closed a 17-year non-recourse project financing with a pool of lenders including ING, Siemens Bank and Unicredit, which have provided over €85m.

The purchase went ahead once all construction permits were secured and a 20-year feed-in tariff was awarded under the auction system run by the state-owned renewables authority Gestore Servizi Energetici, Glennmount said.

It then “structured the procurement and construction contracts, and managed the construction of the plant which was delivered on budget and within the set time-frame”.

The wind farm consists of 20 Siemens 3MW wind turbines.

Image: Siemens