EOS Investment Management Group and RENERGETICA have signed an agreement to develop a pipeline of sites and accompanying authorisations for photovoltaic plants in Italy, with an overall power capacity for up to 250 MW
London/Genoa, May 27th, 2019
EOS Investment Management Group (EOS IM Group) is an international fund manager specialising in alternative investment funds, focussing on Energy & Infrastracture and private equity. Renergetica SpA, listed on the AIM Italia market, organised and managed by Borsa Italiana, specialises in the development of renewable energy projects in international markets. It has its own plant portfolio, and it is active in the provision of operational asset management services, as well as in the innovative smart grid market. EOS IM Group and Renergetica have announced the signing of an agreement to develop a pipeline of authorisations for ground photovoltaic plants throughout Italy over the next three years, for a total power capacity of 110 MW, extendable up to 250 MW.
The operation has been preceded by recent agreements signed by Renergetica, thus consolidating its comeback to the Italian market.
“Today’s agreement with EOS IM Group has enabled us to speed up the processes for the achievement of our targets, and has contributed to Italy returning to its position as one of the most interesting markets in our Group”, says Davide Sommariva, President of Renergetica. “In six months, we have achieved the goals that we were planning to accomplish over a two-year timeframe. Our shareholders’ trust stems from our proven professional records and from our ability to reach our estimated economic targets set for 2019 well in advance. The revenues deriving from the agreement with EOS IM Group will ensure that we achieve the targets set for 2020 as well. We are proud to return to the market where we were born ad where we grew.
At the same time, and with the same enthusiasm, we will face and enhance our business internationally, solidifying our presence in the Chilean market, and intensifying our work in the US as well as in the Colombian emerging market.”
While developing its pipeline, Renergetica also pays great attention to the environment, with its plants designed to merge with the landscape, reforestation commitment, and conscious disposal of the plant at the end of its efficiency life, once it becomes obsolete.
Ciro Mongillo, CEO and Founding Partner of the EOS Investment Management Group has commented: “The agreement with Renergetica marks an important step in our strategy to become one of the most sustainable funds in Europe. I believe that one of the keywords for us, as an international fund manager, today more than ever, must be “sustainability”.
In this perspective continues Ciro Mongillo – “we are continuing to maintain our commitment in the renewable energy sector, where we are contributing in very practical terms to positive environmental impacts”.
Further, Giuseppe La Loggia, Managing Director and Head of Renewable Energy of EOS IM Group commented that “We are extremely satisfied with the framework agreement signed with Renergetica SpA. Thanks to its outstanding, track record and management team, we are confident that this long-term collaboration will be successful. Thanks to this agreement, we will further strengthen our presence in the renewable energy market in Italy and in Europe enhancing our already ambitious pipeline of plants in grid parity.”