August 2021 - Astris Finance congratulates Grupotec for entering into a partnership with Glennmont for the development of a 473MW portfolio of Spanish projects

August 2021 - Astris Finance is pleased to announce the closing of the partnership between Grupotec and Glennmont to develop a 473MW solar photovoltaic (PV) portfolio in Central and Southern Spain.

The transaction, one of the largest of its kind this year, was agreed in August 2021 with the Spanish developer and EPC contractor Grupotec.

Grupotec will continue to partner with Glennmont on the construction and operations side, leveraging on Glennmont's track record in building over 1GW of solar power in the last 14 years including 650MW in Spain. The projects will be built using Tier-1 solar technology partners.

The 473MW portfolio marks the latest milestone for Glennmont's Clean Energy Fund III following the launch of BNZ, Glennmont's new independent power producer (IPP). BNZ plans to deploy 1GW of solar PV across Southern Europe bringing Glennmont's total development pipeline of solar PV to over 1.5GW.

Astris acted as co-financial advisor to Grupotec.