Foresight Energy Infrastructure Partners II has acquired a majority stake in Italy's flyRen Energy Group, enhancing its commitment to renewable energy and supporting Italy's transition to a low-carbon economy.

Target Information

Foresight Energy Infrastructure Partners II (FEIP II) has successfully acquired a majority stake in flyRen Energy Group SpA, a prominent Italian renewable energy developer based in Turin. flyRen is recognized for its independent renewable power production, with a substantial development pipeline of approximately 2.2GW comprising solar, battery storage, and onshore wind technologies. The company has demonstrated a robust ability to progress its projects to the ready-to-build stage, showcasing its expertise in the renewable energies sector.

Industry Overview in Italy

Italy is increasingly positioning itself as a significant player in the European energy transition. The country’s National Energy and Climate Plan (NECP) sets ambitious goals for renewable energy, aiming to scale installed solar capacity from around 41GW to 80GW by 2030 and targeting 200GW by 2050. This drive aligns with the European Union's Fit-for-55 initiative, which aspires to reduce greenhouse gas emissions by at least 55% by 2030.

The EU’s overarching regulatory framework and member states' climate strategies are fostering a conducive environment for renewable energy investment and deployment. Italy