News

Genoa, 4 November 2020 – ERG, through its subsidiaries Sandy Knowe Wind Farm Limited and Creag Riabhach Wind Farm Limited, has obtained authorisation to increase the capacity of Sandy Knowe and Creag Riabhach wind farms, currently under construction in Scotland, respectively from 48 MW to 90 MW and from 79 MW to 92 MW.

The wind farms will have an estimated annual electricity output when fully operational of approximately 521 GWh, corresponding to the needs of more than 133,000 households.

The growth in capacity, which will enable an overall increase of around 250 kt in avoided CO2 emissions per year, will be implemented via the installation of generators with higher nominal capacity, without altering the layout of the original projects. The total investment for the construction of the two wind farms amounts to about 214 million Euro.

The Sandy Knowe facility is scheduled to come on stream by the end of 2021 as regards the first lot of 50 MW and the remainder during the first six months of 2023; the Creag Riabhach wind farm is expected to come into operation by the end of 2022.

ERG consolidates its organic growth path outside of Italy, expanding its capacity under construction in the United Kingdom from 199 MW to 254 MW.

Contacts:

Anna Cavallarin Head of Media Relations & Digital Channels – e-mail: acavallarin@erg.eu

ERG’s Board of Directors approves the 2021-2025 Business Plan and ESG Plan
Growth in renewable energy continues in the name of sustainability through an increase of 1.5 GW in installed capacity, investments totalling around €2 billion and end-of-plan EBITDA at €550 million.

Genoa, 14 May 2021 –

During its meeting held yesterday, ERG’s Board of Directors reviewed and approved the 2021-2025 Business Plan and ESG Plan. Paolo Luigi Merli, Chief Executive Officer, commented: “Over 3GW of installed capacity, together with 3GW of development projects, form a sound basis from which to launch a new phase of growth and transformation. This is a Business Plan in the spirit of sustainability, where business strategy and ESG objectives are closely integrated. A growth of 1.5GW in installed capacity, challenging but solid with over 60% of the objective guaranteed by projects under construction or at an advanced stage of development.

In view of the foregoing, we forecast EBITDA of around 550 million Euro by 2025, notwithstanding the gradual expiry of incentives during the plan period. It is also a Plan for reconversion of energy sales procedures on a “quasi-regulated” basis, through participation in Auctions and PPAs, which will ensure greater stability as regards our flows and increased borrowing capacity to support growth, in compliance with the Financial Rating. Although not itemised in the Plan numbers, since at the present time it is not possible to make any forecast in such connection, the Asset Rotation of the Hydroelectric and Thermoelectric power plants, if it should actually materialise, would represent an opportunity for further acceleration in our growth and evolution towards a pure renewables model in the Wind and Solar power sectors.”