Glennmont Partners, PGGM fund form Italian renewables venture

LONDON (Reuters) - Fund manager Glennmont Partners said on Monday it had established a joint venture with PGGM Infrastructure Fund to manage a portfolio of Italian renewable energy assets.

The new company, called Green Energy Management Services, will develop, build and operate large portfolios of clean energy assets across Italy.

It will begin operations with around 400 megawatts of wind assets under its management, making it one of the biggest asset management operators in the Italian market with immediate effect, Glennmont Partners said.

Glennmont Partners focuses on investment in clean energy infrastructure and has around 2 billion euros (£1.8 billion) of assets under management.

PGGM Infrastructure Fund is part of Dutch pension group PGGM.

Reporting by Nina Chestney; Editing by Mark Potter