2020 Success Stories

We are an international pure play working in the renewable energy sector. We develop, design, build and manage plants that generate clean power. We provide highly specialized energy management and downstream services to both energy producers and consumers and we use our know-how to manage third party assets both technically and commercially. In 2020, we went through a particularly difficult time, with new and complex challenges evident for all to see. Nonetheless, we relentlessly continued to follow our strategic plan and to pursue our mission, putting the safety and health of our employees always at the top of our priorities and supporting the communities where we operate.

Covid-19: We stood by the territories where we operate

Last spring, we launched an international supporting program to alleviate the impact of the Covid-19 pandemic with targeted actions in the local communities and territories where we operate.

The program – for a total value of € 740 thousand – helped local communities around our wind & solar plants in UK, Italy, France, Spain, and the US where the epidemic is creating relevant health & social consequences.

In Italy, the support has been oriented to assist municipalities around our assets in Sardinia, Apulia, Calabria, Sicily, and Lombardy. Funds has been used mainly to locally support the Civil Protection, social services, hospitals & emergency services, schools and contribute to the “Food Bank for Families” initiative. We also stood by medical research by supporting two medical research studies linked to the Sacco Hospital (Milan) and the San Matteo Hospital (Pavia), by means of donations.

In France, the contribution addressed the 15 municipalities where our 9 wind farms are located, in the Bretagne, Centre-Val de Loire, Grand-Est, Hauts-de-France, Nouvelle-Aquitaine and Pays de la Loire regions. The funds supported the on-going actions implemented by the municipalities and aimed at supporting local population and economy and containing the spread of the virus.

In Spain, we stood by the municipalities around our two wind farms, in Castilla y León and in Aragón regions. In particular, the assistance aimed to protect the most vulnerable groups by supporting the purchase of sanitary equipment.

In the US, we provided support package for the people living around our solar plants in Massachusetts and North Carolina, financing a food home delivery service to elderly people during the emergency.

The initiative to promptly support local communities in the undergoing Covid-19 emergency has been fully consistent with our approach to create shared value with the communities living around our plants, considering our presence in an area a sustainable development factor for both the communities and the businesses operating around the renewable assets.

Since the initial phases of the Covid-19 emergency we have supported, together with Falck S.p.A. and Fondazione Falck, local organizations and entities in the Lombardy region (Italy) that has been mostly impacted by the epidemic.

Green bond

We issued a €200 million senior unsecured equity-linked Green Bond due September 23, 2025. The bond does not bear interest and has been issued at an issue price of 101.25% of its nominal value, resulting in an annual gross yield-to-maturity of -0.25%. The initial conversion price is €7.22 per Ordinary Share with a premium of 35.00% above the Reference Share Price of €5.35.

We placed the first Green convertible Bond in Italy, and we achieved the lowest yield for an inaugural unrated convertible bond issued over the last 5 years in Europe, thus enabling the growth of the green finance market, with 2.5x oversubscription.

The Financial Community has supported our inclusive Sustainable Business Model and the belief that a sustainable future can be better achieved through green financial instruments.

An amount equal to the net proceeds of the Green Bond will be allocated to finance and/or re-finance, in whole or in part, new or existing renewable energy assets with expected substantial environmental impact. The Eligible Green assets are or will be carried out by us or our direct or indirect subsidiaries.

Novis Renewables

In March 2020, we completed the strategic agreement with Eni for the joint development of renewable energy projects in the US which was announced on December 20, 2019.

The partnership establishes a significant platform for the development of new solar, wind and storage projects from renewable sources in an evolved US market, which offers significant growth prospects. The partnership, exclusive for the US, will cover all phases of development, construction and financing of new projects combining our know-how in renewable assets together with Eni’s technological and financial capabilities, accelerates our and Eni’s growth in the US and helps reach our respective goals in terms of installed capacity and green energy generation.

From this strategic partnership, a development platform, Novis Renewables LLC, has been created. Novis Renewables LLC is now a New York based renewable energy company, aiming to become one of the largest owners and operators of renewable energy assets in the United States.

The company was born in March and since then it has kept growing: through Novis we acquired 62 MW of operating wind and solar plants from Building Energy, as well as a great team and we signed an agreement with Savion to acquire the ready to build 30 MW Westmoreland PV project in Virginia. In the US we currently have 175MWdc in operations and 6.6MWhr of BESS System. This recent acquisition in the US brought our total installed capacity to 1196 MW.