CDP Equity
Energy

Renovit

  • Status Active
  • CDP Equity Start of the investment 01/29/2021
  • CDP Equity Investment size € 32.5 mln
  • CDP Equity Shareholding 30%
CDP Equity

Overview

Renovit is the leading Italian platform created to promote and develop the energy efficiency. Renovit, previously Snam4Efficiency is 70% owned by Snam and the remaining 30% by CDP Equity.

Rationale

In the last few years, the platform Snam4Efficiency has become one of the leading national operators in the field of energy efficiency, as a result targeted screening and an effective M&A strategy run by Snam. Today Renovit is operating by means of an integrated services offering in the residential and industrial sector through its investee TEP Energy Solution and Evolve and in the public administration through its investee Mieci. Leveraging its current positioning, Renovit aims to develop its activities in the field of public administration, strengthened by the role of the CDP Group, it has been supporting Italy and local authorities for 170 years. Furthermore, Renovit is able to benefit from a commercial cooperation agreement signed between Renovit and CDP Group.

Objectives

The platform's aim is to accelerate investments and to foster Italy's sustainable development and energy transition through: (i) energy upgrading interventions in public and private condominiums, in public administration's offices and in public lightning and water plants; (ii) the creation of energy infrastructures for self-consuption (i.e.: photovoltaic, cogeneration etc.) for corporations and SMEs.