Renewables, Erg buys green plants for 152.5MW in France and Germany
Terribly consolidates its presence in France and Germany throughpurchase of plants for 152.5 Mw overall. The company owned by the Garrone family, which closed the first six months of 2021 with revenues up 28% (526 million compared to 498 in the first half of 2020) continues to focus strongly on renewable energies. And it does so through a rebalancing of supply sources.
Before the transaction announced today, which has an enterprise value of around 202 million, with an expected net financial position at closing of 48 million, all renewable energies they had recorded a decline both in terms of revenues and Mol. With one big exception: thehydroelectric it almost doubled its weight, passing from 59 to 104 million in revenues in the half year. The thermoelectric worth 168 million, down by 8 million compared to the first half of 2020, wind power 215 (-10 million) and solar 38, in equilibrium compared to the same period of 2020.
Going to study the composition of the production of energy sources, the most significant in the semester is wind power, which between production in Italy and abroad exceeds 2 Tw / h out of a total of 7.5. Production follows thermoelectric, l’hydroelectric and, last but not least, the solar. The composition of the mix of the Garrone family essentially follows that of a colossus like Enel Green Power. Which certainly has a larger size (56.08 Tw overall out of 1,238 plants in the world) but which at the same time maintains a similar composition: in fact, the exact half of the production derives fromhydroelectric, wind is worth over 30% while solar is around 15%.
Even a historic Italian entrepreneurial family like i Falck, through their Falck Renewables focused on a mix of alternative energy. But in this case there is no recourse towater and thewind power represents almost all of the installations: 1,063 MW out of a total of 1,320 installed, with photovoltaics having 212 MW installed. Turnover at 31 December 2020 was 384.4 million, with a Group net result of 45.6 million.
The growth maneuvers of the energy mix are set to increase exponentially now that the Pnrr has, by statute and also by economic endowment, decided to carry out an energy transition that will see an investment of 67 billion only for the part concerning the reduction of CO2. There is no shortage of wind and sun in Italy, and it is clear that all the big players are starting to try to understand how to reposition themselves. It is no coincidence that the Terribly, after a 2020 with decreasing turnover (as was understandable given the reduction in the commercial use of energy), it is once again aiming decisively at a turnover of more than one billion.
Falck Renewables yesterday announced an equal partnership with BlueFloat Energy for the development of floating marine wind farms off the Italian coasts and the start, shortly, of the process for the first project in Puglia involving the waters off the coast of Brindisi, called Kailia Energy. The expected installed capacity of Kailia Energy will be equal to approximately 1.2 GW, for an expected annual production of 3.5 TWh, equivalent to the consumption of approximately 1 million Italian households, avoiding the emission of 2 million tons of carbon dioxide in atmosfera all’anno.
The green revolution, also in energy matters, has just begun. But we can already see how the historic Italian entrepreneurial families are lined up ready to seize an extraordinary opportunity to try to save what remains of the planet. With an eye to 2030 (balance of net emissions at 0) and 2050 (total zero emissions).