Receive our newsletter – data, insights and analysis delivered to you
  1. News
May 11, 2021

Edison plans to sell stake in renewable business

Italian energy company Edison is reportedly planning to sell a 40% stake in its renewable energy generation unit.

By Umesh Ellichipuram

According to insiders, Edison is seeking to capitalise on the increasing demand for green assets from investors.

The company, owned by EDF, is working with two financial service companies, Lazard and Societe Generale, to invite private equity firms to an auction process.

The auction process is expected to take place in the coming weeks, according to the sources.

The sources said the deal was expected to value Edison’s complete renewable energy generation business at more than €1bn ($1.22bn).

Proceeds from the divestiture will help the company to support its green energy operations.

Due to ‘investment priorities’, EDF has not committed any financial support for Edison.

Content from our partners
Green investment: What gives Scotland multiple advantages
How Hengst helped to keep Germany’s charity “star singers” shining
How one power station prevented frequent shutdowns with three-stage air filtration

Edison has divested all its upstream exploration and production assets in order to focus on the renewable power and energy efficiency segment.

The company declined to comment, as did Lazard and Societe Generale.

In February, Edison took over 70% of E2i Energie Speciali, which has 706MW of wind capacity across 38 plants in Italy. The company already held the remaining 30% stake in E2i.

By taking complete control of E2i, Edison became Italy’s second-biggest wind operator, with a renewable installed capacity of 1GW.

Italian state-owned energy group Eni also plans to sell a minority stake in a new retail and renewable energy business that aims to grow green power generation to more than 5GW by 2025.

The move is part of Eni’s energy transition plans.

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Wednesday. The power industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy