Information on the target
Altenia, a sub-holding of Terna Energy Solutions and part of the Terna Group, has successfully acquired 100% of Energy System Services, a Lombardy-based company specializing in the maintenance of renewable energy plants and electrical substations. This acquisition from BayWa r.e. Italia, the Italian subsidiary of the German renewable energy group, is valued between €2.5 million and €4.5 million. The transaction became effective on October 1, 2026, following the announcement of a preliminary agreement at the KEY Energy fair in Rimini in March, with the closing finalized on September 30.
Energy System Services operates in the operation and maintenance (O&M) sector and engineering, procurement, and construction (EPC) for renewable energy plants, including wind farms and high and medium voltage substations. The company boasts a digital control room that operates 24/7 and manages a portfolio of over 1 GW of plants under maintenance. According to filed financial statements, Energy System Services reported revenues of approximately €24.5 million and an EBITDA of around €2 million.
Industry overview in the target’s specific country
The Renewable Energy Equipment & Services (NEC) industry in Italy has witnessed significant growth in recent years, driven by the country's commitment to transitioning towards sustainable energy sources. Italy has established itself as a leader in renewable energy, particularly in solar and wind power, supported by favorable government policies and incentives aimed at reducing carbon emissions. The Italian government has set ambitious targets to increase the share of renewables in the energy mix, which has catalyzed investments in renewable energy infrastructure and services.
In the context of the Renewable Energy Equipment & Services sector, companies are increasingly focusing on enhancing operational efficiencies and expanding their service offerings to meet the growing demand for maintenance and management of renewable energy assets. The market is characterized by a competitive landscape with both established players and new entrants striving to capture market share. The emphasis on innovative technologies and digital solutions is reshaping the industry, enabling companies to optimize performance and reduce operational costs.
Furthermore, the Italian renewable energy sector is supported by a robust regulatory framework that encourages investment in green technologies. This has led to the emergence of specialized service providers like Energy System Services, which play a crucial role in ensuring the reliability and efficiency of renewable energy installations. As the market matures, there is a clear trend towards consolidation, as companies seek to enhance their capabilities and expand their geographic reach to better serve a growing client base.
Overall, the Renewable Energy Equipment & Services industry in Italy is poised for continued growth, driven by increasing demand for sustainable energy solutions and the ongoing transition towards a low-ca…