Comunità Energetiche is a pioneer IPP operator active in Italy for the development of energy communities and small-scale PV projects focused on the production of renewable energy for self-consumption.

Fund II entered the company in 2020 investing Euro 40 mln through capital increases owning a stake of the share capital equal to 100%. The Fund investment was used to finance the development plan of the company.

Sourcing and Investment Rationale

• Proprietary deal finalized by FIEE in 2020. FIEE had a unique entry point given its prior relationship with the entrepreneurs and the company’s current CEO.
• Attractive platform for the development of energy communities in Italy and for renewable energy production for self-consumption.
• Integrated business model covering all phases of the PV value chain, from land acquisition all the way through to permitting, development, construction and energy sale.

Value Creation

• Establishing a leading independent power producer operator in the renewably-produced energy for self-consumption segment, with the goal of reaching more than 100 MW small-scale PV projects in full operation.
• One of the pioneer operators in the context of the Italian energy communities market, together with FERX and SEU business models.

Progress Update

• Financed the growth of the company mainly through capital injections used for: acquisition of small-scale PV plants on the secondary market, more than 85MW authorized and in construction and 22MW in operation as of January 2026.
• Further pipeline more than 80MW under development