F2i Sgr signs agreement with Edison for the sale of the 70% interest in E2i Energie Speciali following the concentration of wind power activities in Sorgenia
CEO Renato Ravanelli: "The successful partnership with Edison comes to an end but the commitment to develop renewable energy through our subsidiaries EF Solare and Sorgenia continues".
Milan, 14 January 2021 – F2i SGR, Italy's leading infrastructure fund, has signed an agreement to sell 70% of E2i Energie Speciali to Edison, which already owns 30%. This marks the end of a sixyear partnership that led to the creation of one of Italy's leading wind energy operators. F2i will continue to be a leading investor in the wind energy sector through the Sorgenia group, which was recently acquired and into which the F2i funds transferred all their wind power assets with a total of capacity of 300 Megawatts.
Through this transaction, F2i will be able to concentrate its resources on growing Sorgenia, which has an installed capacity of about 4,800 megawatts and aims to play an increasingly important role in Italy's energy transition with its modern gas-fired and renewable energy plants. The group will also be involved in developing additional renewable energy capacity in those segments it already covers (wind and biomass), as well as the solar, bio-methane, hydroelectric and geothermal segments.
"F2i is determined to fulfil its commitment to develop sources of renewable energy," commented Renato Ravanelli, Chief Executive Officer of F2i Sgr, "through our fund we have created EF Solare, Italy's leading solar operator, and one of the first in Europe, with an installed capacity of about 1,000 megawatts and another 1,000 megawatts under development. We are concluding this successful wind energy partnership with Edison to focus on growing Sorgenia, an integrated provider for the energy transition and market leader in digital channels".
F2i SGR was advised on this transaction by BNP Paribas as financial advisor.