Target Company Overview

Eni Gas e Luce has acquired a majority stake in Evolvere Spa, a company backed by Oltre Venture and specializing in the sustainable and distributed production of electricity. Evolvere Spa aims to empower electricity users to become active market participants by enabling them to produce and sell their own energy through small photovoltaic installations at residential properties. This strategic acquisition by Eni Gas e Luce signifies the achievement of Evolvere's objective to facilitate energy self-generation and consumption.

Less than a year after subscribing to a convertible bond worth two million euros in Evolvere, Oltre Venture has effectively exited the company following Eni Gas e Luce's acquisition of 70% of Evolvere's shares, facilitated through an agreement with L&B Capital, the majority shareholder of Evolvere. The company, led by Michele Cappone, currently manages over 11,000 photovoltaic systems, of which 8,000 are installed at residential and business clients, totaling 58 MW of capacity. Evolvere's commercial offerings include the installation of energy storage systems to promote self-consumption and the sale of excess energy back to the grid, supported by advanced monitoring services for production.

Industry Overview in Italy

The renewable energy sector in Italy is rapidly evolving, driven by a national commitment to achieving sustainability goals and reducing carbon emissions. The Italian government has implemented a series of legislative frameworks and incentives to promote the adoption of renewable technologies, particularly solar energy. As a result, the market has witnessed a steady increase in the installation of photovoltaic systems across both residential and commercial sectors.

Italy aims to transition towards a decentralized energy model, where users can produce and consume their own energy. Predictions indicate that approximately 800,000 energy

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