Foresight Energy Infrastructure Partners II acquires majority stake in Italy’s flyRen Energy Group SpA

flyRen, an independent renewable power producer headquartered in Turin, has a current development pipeline of approximately 2.2GW spanning solar, battery storage, and onshore wind. flyRen has a proven track record in delivering projects to ready-to-build stage.

This strategic investment marks a milestone for FEIP II as it seeks to expand its presence in Europe and accelerate the delivery of clean energy infrastructure, supporting Italy’s transition to a low-carbon economy.

Europe’s energy transition is accelerating under the EU’s Fit-for-55 package, which aims to meet the EU's goal of reducing greenhouse gas emissions by at least 55% by 2030. EU member states’ climate strategies aligned with this package are already creating strong momentum for renewable energy deployment.

Under its National Energy and Climate Plan (“NECP”), Italy stands out as one of the most attractive markets in Europe, driven by its ambitious targets to increase installed solar capacity from approximately 41GW today to 80GW by 2030, with long-term projections of 200GW by 2050.

Raffaele Ciotta, Managing Director of Foresight Group comments: “This transaction further consolidates Foresight’s presence in Italy, a market with high growth potential where we have been operating for 18 years. We are excited to partner with the flyRen team who have a long track record of renewables development and who are well placed to capitalise on the large opportunity in Italy supported by a favourable regulatory framework. Through FEIP II, Foresight can play a leading role in supporting Italy’s transition to a clean power system.”

Richard Thompson, Co-Manager, Foresight Energy Infrastructure Partners, comments: “This acquisition represents another significant milestone for FEIP II and further underlines our commitment to accelerating Europe’s energy transition. European energy resilience is front of mind across the continent and with this acquisition, we can help advance energy independence as we look to build robust renewables-led energy systems that can help meet the growing demand for electricity while making us less reliant on fossil fuels.”  

Carlo Garuzzo, founder and CEO of flyRen Energy Group SpA comments: “This partnership strengthens one of Italy’s foremost renewable-energy platforms and firmly consolidates flyRen’s leading position in the Italian market, delivering a first-class Independent Power Producer supported by an exceptional team of professionals”.

This acquisition further reinforces FEIP II’s position as a leading investor in infrastructure supporting the energy transition. FEIP II invests across Europe investing in renewable generation, energy storage and grid infrastructure.