He was called Snam4Efficiency, now it's called renovat and the Cdp group also entered the capital, with a 30% stake, through Cdp Equity. Let's talk about the new Italian platform to promote the energy efficiency of condominiums, companies and public administration and promote sustainable development and the country's energy transition. Renovit – explains a note – is positioned as an enabler of further growth in the sector, contributing to the achievement of the national energy efficiency objectives for 2030 and to the decarbonisation of the economic system.
Snam4Efficiency 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, wholly-owned and 100%-owned subsidiaries respectively, active in the residential and industrial sectors, e Mice, 70% owned and operating in the public administration segment. These activities have been further developed over time and enriched with new skills.
In particular, Renovit will leverage its current positioning in the residential and industrial sectors and will further develop the activity in the public administration sector, strengthened by 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 the closing, a commercial cooperation agreement was signed between Renovit and CDP.
The enterprise value of 100% of Snam4Efficiency, now Renovit, has been assessed about 150 million euro. The managing director of Renovit will be Cristian Purchasepace, 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.
“Today's deal – said Fabrizio Palermo, CEO of CDP – is a further step in the implementation of the CDP Business Plan, in line with the sustainable development objectives set by the United Nations 2030 Agenda and the Integrated National Plan 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. This initiative is in fact part of the process of expanding the activities of CDP, which is assuming a role of real strategic partner for local authorities: no longer just a financer of investments, but also a 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".
“Energy efficiency – commented Marco Alverà, CEO of Snam – is one of the activities through which Snam wants to achieve carbon neutrality by 2040 and help reduce emissions for the country system in line with national and European climate objectives. A more efficient use of energy by condominiums, businesses and the public administration by redeveloping buildings and using new digital technologies is essential for reducing pollution and CO₂ emissions. In just two years, Snam has managed to create one of the main national operators in the sector, enhancing Italian entrepreneurial skills and 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 fight to climate change, promoting the sustainable development of our country".
