What will Snam and Cdp do with the Renovit platform
Cdp Equity enters 30% of Snam4Efficiency, which takes the name of Renovit. All the details
Snam and the Cdp group kick off the development of Renovit, the new Italian platform to promote the energy efficiency of condominiums, companies and the public administration and promote sustainable development and the country's energy transition.
WHAT RENOVIT DOES
Renovit positions itself as an enabler of the further growth of the sector, contributing to the achievement of the national energy efficiency targets by 2030 and to the decarbonisation of the economic system. The transaction through which CDP Equity enters the capital of Snam4Efficiency, which takes the name of Renovit and which will be owned 70% by Snam and 30% by CDP Equity, was completed .
ALL THE DETAILS ON SNAM4EFFICIENCY
Snam4Efficiency has quickly established itself as one of the main Italian operators in the development of energy efficiency, offering integrated services to all market segments through TEP Energy Solution and Evolve, 100% and 70% subsidiaries respectively, active in the residential and industrial, and Mieci, 70% owned and operating in the public administration segment. These activities have been further developed over time and enriched with new skills.
THE OBJECTIVES OF RENOVIT
In particular, Renovit will leverage its current positioning in the residential and industrial sectors and will further develop its activities in the public administration sector, thanks to the role of the CDP Group, which has been supporting the Italian territory and local authorities for 170 years. In this regard, at the same time as closing, a commercial cooperation agreement was signed between Renovit and CDP.
The enterprise value of 100% of Snam4Efficiency was valued at approximately € 150 million. Renovit's CEO will be Cristian Acquistapace, who has led Snam4Efficiency since its establishment. Renovit and its shareholders will evaluate all options for the company's future growth, including a possible listing on the stock exchange in the medium term.
THE WORDS OF PALERMO (CDP)
"Today's agreement – said Fabrizio Palermo, CEO of CDP – is a further step in the implementation of CDP's Business Plan, in line with the sustainable development goals set by the United Nations 2030 Agenda and the National Plan Integrated for Energy and Climate. Cassa Depositi e Prestiti is implementing a strategic and operational transformation to be ever closer to the needs of public administrations and businesses, also generating benefits for citizens. In fact, this initiative is part of the process of expanding the activities of CDP, which is taking on a role of real strategic partner for local authorities: no longer just investment financier, but also technical-financial consultant and promoter of development initiatives. of infrastructural and energy works. We are convinced that the joint commitment with Snam can lead Renovit to quickly become the leading operator in Italy in this sector, which is still very fragmented today ”.
THE COMMENT OF ALVERÀ (SNAM)
"Energy efficiency – commented Marco Alverà, Snam CEO – is one of the activities through which Snam wants to achieve carbon neutrality by 2040 and contribute to reducing emissions for the country in line with national and European climate objectives. . A more efficient use of energy by condominiums, businesses and public administrations by redeveloping buildings and using new digital technologies is essential to reduce pollution and CO₂ emissions. In just two years Snam has managed to create one of the main national operators in the sector, enhancing Italian skills and entrepreneurial projects. The birth of Renovit, in collaboration with CDP, gives continuity to this path with further growth prospects: by combining market vision and technical and financial capabilities, the new company will be able to provide an even more significant contribution to energy requalification and the struggle to climate change, favoring the sustainable development of our country ".
Article published on energiaoltre.it
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/energia/che-cosa-faranno-snam-e-cdp-con-la-piattaforma-renovit/ on Fri, 29 Jan 2021 11:50:49 +0000.