Swisspower | Swisspower Renewables acquires an additional five…

Swisspower Renewables acquires an additional five hydroelectric power plants in Italy

Swisspower Renewables AG, an investment company held by eleven municipal utility companies and an energy infrastructure fund (UBS-CEIS 2), further extends its existing hydropower portfolio in Italy by acquiring five more plants.

Swisspower Renewables AG acquires 100 percent of the shares of the Italian hydroelectric energy companies Tecnowatt and 3Hydro. As a result, three hydroelectric plants in the province of Sondrio and two hydroelectric plants in Basilicata will be added to Swisspower Renewables’s asset portfolio. The five hydroelectric plants together boast a capacity of about 13 megawatts (MW) and produce approximately 32 gigawatt-hours (GWh) of electricity per year.

Swisspower Renewables is a major hydropower producer in Italy
Already in July, Swisspower Renewables acquired 50 percent of the shares of the Italian hydroelectric company Energia Ambiente. This company and its portfolio has been divided into two separate companies of which Swisspower Renewables will keep 100% of the newly founded entity with a portfolio of three hydroelectric plants. As a result, Swisspower Renewables has now a portfolio of 39 hydropower plants in Italy, making the company one of the largest hydroelectric power producers based in Switzerland. This portfolio will give Swisspower Renewables an annual hydroelectric production in the amount of 242 GWh in Italy. In addition, Swisspower Renewables’ 26 wind farms in Germany and Italy will annually generate around 405 GWh of wind energy.

The operation and maintenance of the owned hydroelectric plants will be progressively internalized

«With this new acquisition, we are resolutely pursuing our strategy of focusing on hydroelectric and onshore wind energy in Italy and Germany», says Felix Meier, CEO of Swisspower Renewables AG. Further acquisitions are planned. At the same time, the company will gradually take over the operation and maintenance of its hydroelectric plants in Italy. So far, these tasks have been performed by external suppliers.

Felix Meier, CEO of Swisspower Renewables AG
Felix Meier, CEO of Swisspower Renewables AG
««By managing our plants with our internal operational organization, we can exploit synergies, deepen our know-how on the plants and consequently reduce operating costs.»»

Contribution to the energy transition

With renewable energy production, Swisspower Renewables contributes to the 2050 Swisspower Stadtwerke master plan. By 2050 at the latest, Swiss municipal public services want to provide their customers with CO2 neutral renewable energy only. Swisspower Renewables is pursuing the expansion of renewable energy production capacity abroad, as equivalent opportunities are currently absent in Switzerland. In order to guarantee the security of electricity supply in Switzerland also in the future, it is essential to produce more renewable energy simultaneously also in Germany. Swisspower Renewables is committed to ensuring adequate investments.