ERG enters the Spanish renewables market Photovoltaic and wind energy co-development agreement signed with Renergetica

Genoa, 27 April 2021 – ERG, through its subsidiary ERG Power Generation SpA, and Renergetica, a company active on the international market in the development of renewable energy projects, listed on the AIM Italia market managed by Borsa Italiana, have signed an agreement for co-development in the Spanish market on Greenfield projects in the solar and wind power sectors, for a total of around 100 MW per year. Renergetica will also support ERG in the acquisition of “Ready-to-Build” and “in Operation” projects.

The agreement, which has been structured with a view to long-term, flexible and optionable cooperation, will allow ERG to make its entry into an extremely dynamic and competitive market with ample margins for growth, also thanks to the ambitious decarbonisation and renewables growth plans promoted by the Government and by the Spanish institutions.

Paolo Luigi Merli, ERG’s Chief Executive Officer, commented: "This agreement is consistent with ERG’s strategy for growth, through increased geographical and technological diversification of its W&S portfolio. The partnership with Renergetica, a player with sound experience in the development of renewables, in addition to offering the opportunity to implement new projects, will enable us to acquire know-how and expand our network at local level, instrumental in pursuing our growth path in Spain”.

Claudio Rosmarino, Chief Executive Officer of RENERGETICA, commented: “The agreement signed with ERG represents another major milestone in Renergetica’s international growth path and allows our subsidiary Renergetica S.L. to develop its business in the important Spanish market relying on a top level partnership, with the hope that we can extend our collaboration also to other countries of mutual interest”.

ERG is a leading European independent producer of electricity from renewable energy sources, with an overall installed capacity of 3,115 MW, active in the production of wind energy (1.9 GW), solar energy (141 MW), hydroelectric energy (527 MW) and high-yield thermoelectric cogeneration energy with low environmental impact (480 MW). Listed on the Milan Stock Exchange, it is the leading onshore wind power operator in Italy and one of the top ten in Europe, active in Italy, France, UK, Germany, Poland, Romania and Bulgaria.

RENERGETICA, founded in Genoa in 2008, Innovative SME from October 2016 and listed since August 2018 on the AIM Italia market organised and managed by Borsa Italiana, operates in the renewable energy sector as Developer and IPP, covering all activities of the value chain except EPC. It has built an important track-record of development and skills in all renewable energy segments (in particular photovoltaic, wind, mini-hydro). It is active in Italy, Chile, the United States and Colombia. In 2020 it achieved revenues of 11.5 mln Euro with an EBITDA margin of 41%. It has internally developed Hybrid Grid Smart Controller (HGSC), an innovative control software for optimising hybrid networks, characterised by high performance and reliability.