Our vision of the Future

The future we see is renewable. We will continue to move in this direction, implementing the 1.7 billion euros investment programme included in our 2018 - 2022 Business Plan, pursuing high quality projects and keeping ready to seize any opportunities that arise, applying our know-how, flexibility and financial capabilities.

The nineteenth century was the century of coal. The twentieth was that of oil. We believe that the twenty-first century will be that of green energy. We expect 35% of the world total production of electricity to be from renewable sources, by 2040*.
Wind power will grow worldwide by seven times between 2012 and 2040**, while in Europe it will quadruple. Starting in 2020 the production costs of electricity from renewable sources will be lower than those of coal and oil. Which means that due to greater efficiency and cost reduction, renewables are beginning to be quite competitive.

Scenario and Energy Policies
In recent years we have all become aware of the direct link between phenomena such as the emission of greenhouse gases and global warming and the need to implement concrete actions to stop climate change.

In Italy, the current energy policy guidelines are defined in the 2020 climate-energy package contained within the Europe 2020 strategy, which sets the energy targets to be reached by 2020 at EU level.

In 2011 the European Commission defined the roadmap 2050 which outlines the guidelines for an almost total de-carbonisation of our economy, stretching beyond the 2020 strategy, with the ultimate goal of keeping the global warming produced by anthropogenic climate change within 2 °C. As an intermediate step of the process, in October 2014 the European Council reached an agreement on the environmental and energy policy for 2030.

The Paris agreement on climate change (COP21), which was signed by 196 parties around the world is within this context. Our future plans The increase of renewable energy production is increasingly important for our current transition. We have been forerunners of these trends, on a global basis, by radically shifting our business model. 

Our future plans
The increase of renewable energy production is increasingly important for our current transition. We have been forerunners of these trends, on a global basis, by radically shifting our business model.
In our 2018-2022 Business Plan we laid out the strategic lines of our development for the next five years.
*source: World Energy Outlook, IEA Nov.2015
** Bloomberg, New Energy Outlook 2015

Our 2018-2022 Business Plan

Our strategy will continue to be to anticipate the scenarios and the trends of the sector and for this reason the 2018-2022 Business Plan was approved a year early.

In recent years there has been a radical and profound change in Europe in the industry of energy generation from renewable sources: while on one hand Governments are pushing ever harder for decarbonization and in favour of renewable sources, on the other hand there has been a radical change in the competitive scenario, with the progressive introduction of competitive auctions for the awarding of new renewable capacity and the consequent abandonment of the incentive systems.
Thus, renewables changed from being a business with strong infrastructural connotations to a business with purely industrial characteristics.

Within the changed competitive environment, our strategy is to continue growing in renewable energies, now leveraging our industrial know-how, our territorial presence, the quality of our assets, our operating efficiency and on the flexibility of our integrated Energy Management portfolio.

The target in the 2018-2022 time interval is to increase the installed capacity by approximately 850 MW through three channels:

1) Greenfield and co-Development: we intend to continue with our growth strategy through internal growth or codevelopment agreements in France, Germany and United Kingdom.

2) Repowering and Reblading in Italy: in consideration of the technological evolution of the wind power sector, our objective is to carry out repowering and reblading on wind farms equipped with obsolete technologies, with turbines below one MW, with incentives already expired or expiring, but at the same time in the windiest sites, hence with very high expected profitability even in the absence of incentives.

3) M&A: we intend to continue having an approach in order to exploit opportunities for growth in renewable sources in the countries of interest for us, leveraging the experience acquired along our transformation path and on the synergies deriving from consolidation with our portfolio.
Page updated at 14 Oct 2019