Compagnia Energetica Italiana: 30 million for green energy projects
The electricity and gas supplier is moving into generation: the target is 25–30 MW within 2–3 years. Focus on solar farms
“We have a phased investment plan for plant infrastructure over a 2–3-year period, with the aim of achieving a capacity of 25–30 MW of renewable energy – primarily solar power – representing an estimated investment of up to 30 million euros over that period.”
Enrico Pozzi, chairman and chief executive of Compagnia Energetica Italiana (CEI) – a Milan-based company that has been active in the sale of electricity and gas for over ten years – has announced the decision to expand its operations to include electricity generation.
This step is being taken as part of an industrial strategy characterised by balance, prudence and soundness. ‘We do not engage in trading. We do not speculate. We sell gas and electricity on the same terms as we buy them. We have a balanced portfolio that enables us to guarantee our customers’ supply. And now we’re taking it a step further,” says Pozzi. “Rather than focusing on customer growth – which we could certainly achieve rapidly – we believe it is more worthwhile to focus on the supply side. We started by sourcing energy directly from producers, and now we are adding another piece to the puzzle: in our own small way, we want to integrate production and sales.”
This move represents a strengthening of our position in a market which, having already coped with the skyrocketing prices of 2022 at the start of the Russian war in Ukraine, now finds itself having to deal with the price rises caused by the crisis in the Middle East and the Strait of Hormuz: “The market has been crazy of late. Whilst prices rose in 2022 but there was still consistency between price, spread and liquidity, that is not the case this year. It makes sense for us to work towards adding a component to our company that brings greater stability,” says Pozzi.
The company’s objective is to acquire and subsequently manage photovoltaic installations, typically integrated with battery storage systems. It is focusing exclusively on Italia, with the first transaction expected by the end of the year, before commencing operations in earnest in January.
