The new Italian platform to promote the energy efficiency of condominiums, companies and public administration is called Renovated. The new company was thus renamed after the entry of Cassa Depositi e Prestiti into the capital of Snam4Efficiency, and will be owned 70% by Snam and 30% by Cdp Equity. Renovit proposes itself as an enabler of the further growth of the sector, contributing to the achievement of the national objectives of energy efficiency to 2030 and to decarbonizzazione of the economic system. As the construction sector is responsible for 36% of the EU’s greenhouse gas emissions, the energy renovation of existing buildings is considered essential in the fight against climate change.
The evolution of Snam4Efficiency
Snam4Efficiency has been present for some time on the energy efficiency services market. In 2020 it acquired full control of Tep Energy Solution, one of the main Italian companies active in the energy efficiency sector since 2006. And previously it had already acquired Tea Services, Energy Service Company (ESCo) active in the design, construction and operation of thermo-hydraulic and electrical systems for industrial customers, with particular focus on small and medium-sized enterprises.
Also in 2020 it acquired 70% of Mieci and Evolve. The first specialized in the management of integrated energy and technological services for hospitals and public administration buildings, for the tertiary sector and for public lighting. The second instead offers efficiency solutions for private condominiums, urban districts and for public housing. Renovit leverages the current positioning and experience of the Cdp Group to further develop the activity in the public administration sector.
The CEO of the new company will be Cristian Acquistapace, 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.
The agreement – he said Fabrizio Palermo, CEO of Cdp – a further step in the implementation of the Industrial Plan of CDP, in line with the sustainable development goals set by the United Nations 2030 Agenda and the Integrated National Plan for Energy and Climate. In fact, this initiative is part of the process of expanding the activities of Cdp, which is taking on a role of real strategic partner for local authorities: no longer only financier of investments, but also technical-financial consultant and promoter of initiatives for development 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.
A more efficient use of energy by condominiums, businesses and the public administration by redeveloping buildings and using new digital technologies, essential to reduce pollution and CO₂ emissions – explained Marco Alver, CEO of Snam -. In just two years Snam managed to create one of the main national operators in the sector, enhancing Italian skills and entrepreneurial 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 struggle to climate change, favoring the sustainable development of our country.
The European objectives
To encourage the redevelopment and energy efficiency of buildings, the European Union has launched the ‘Renovation wave’ initiative. The goal is to refurbish 35 million buildings by 2030, creating up to 160,000 more jobs in the construction sector. To remove obstacles to green renovations, the European Commission has presented a plan that includes incentives for owners and tenants, financing through the Recovery Plan and other European funds.
The strategy will include more stringent regulations, regulatory standards and information on the energy performance of buildings, with better incentives for public and private sector renovations. Mandatory minimum energy performance standards for existing buildings, updated rules for energy performance certificates and building extensions and new renovation requirements for the public sector will be gradually introduced. Furthermore, from June 2021 the EU executive could decide to introduce a minimum level of renewable energy in buildings.