Algebris Green Transition Fund | Esapro S.r.l.
Esapro
Leading Italian player in the design, construction and maintenance of PV power plants.
Name
Esapro S.r.l.
Sector
Energy Transition
Sub-sector
Services for renewable power generation
Acquisition year
2023
Status
In portfolio
Revenues
~€45m
Sustainable Development Goals
- SDG 7 – Affordable and green energy
- SDG 13 – Climate action
Related team
Luca Valerio Camerano
Matteo Tarchi
Esapro provides services for solar photovoltaic systems operating mainly in Italy and Romania. The company offers industrial customers the opportunity to take concrete steps towards sustainability by producing natively green energy independently and competitively, benefiting from the cost-effectiveness of solar self-production over traditional energy sources.
The company focuses on higher added value activities, such as the design and construction of photovoltaic plants, both ground-mounted and roof-mounted, with a particular focus on industrial-size plants; revamping and repowering of existing plants; ordinary and extraordinary maintenance, of both roof-mounted and ground-mounted plants; design, installation, revamping, management and maintenance of security systems for photovoltaic plants. In addition, through its wholly owned subsidiary Esapro Control, the company provides surveillance, video surveillance and alarm management services, with a 24/7 operations centre, to protect renewable plants and/or infrastructure throughout the country.
Investment and Environmental Thesis
Through this investment, Algebris Investments intends to position itself in the construction and maintenance of renewable generation plants. The solar plant construction market is also experiencing strong growth, triggered by the European Union’s renewable generation targets and a legal framework designed to alleviate obstacles in the permitting process. The project aims to contribute to the consolidation of a fragmented and undercapitalised market by creating an integrated entity focused on technical services for photovoltaics, capable of providing a wide range of services for investors and operators that will include technical advisory support, development, construction, maintenance and surveillance.
The company, a facilitator of the energy transition towards renewable sources, is fully consistent with the Fund’s strategy and its Article 9 classification under the SFDR.
Luca Valerio Camerano
Managing Director and Senior Partner of the Algebris Green Transition Fund
Acquiring Esapro demonstrates our commitment to invest in supporting the environmental transition, specifically the energy transition. The European Union and Italian government have both emphasised the importance that solar energy production will have in the transition from fossil fuels to renewable energy sources. To enable the transition, it is crucial to provide capital and strategic expertise to those who will lead the installation and maintenance of the plants in the years to come.
Giorgio Menaldo
CEO of Esapro
In recent years, Esapro has grown thanks to the laudable commitment of the entire team and the depth of understanding between the structure and the partners, who have always supported us. A journey with the L&B group, a partner in Esapro Holding S.r.l, now comes to an end. Over the course of these seven years, we have gradually returned to our origins as a photovoltaic EPC contractor. The transition has been challenging and the company is now ready to face a new expansion phase, thanks to the support of our new partner, the Algebris Green Transition Fund, and the operational and strategic skills of its investment team”
