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Italy

Italy

ERG Renew makes O&M acquisition

ITALY: Italian wind developer and operator ERG Renew said it has acquired a company created specifically to perform operations and maintenance (O&M) on a significant portion of its domestic wind farms.

ERG Renew, a subsidiary of Italian energy group ERG, is buying the business from Italian wind energy developer and services group Maluni for an enterprise value of about EUR 10 million. The transaction is expected to close in the fourth quarter.

With the acquisition, 136 people — mostly O&M technicians — will join ERG from Maluni. The move could be a prelude to the company bringing O&M for ERG's other wind farms in Italy and abroad in-house.

ERG Renew is the largest Italian wind producer, with more than 1GW of operational assets in the country after its recent acquisition of a 550MW portfolio (plus 86MW in Germany) from GDF Suez.

The company's new O&M business will initially be responsible for servicing this 550MW Italian portfolio.

"This transaction, which is of enormous strategic importance in such a mature sector, enables us to complete our acquisition of the technical skills required to manage wind farm operations in a direct and integrated manner," said Luca Bettonte, CEO of parent company ERG, highlighting expected cost optimisation and efficiency benefits from the deal.

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