Italian storage company Energy S.p.A. to acquire Enermore

June 3, 2024

Italian energy storage system company Energy S.p.A. has signed a preliminary agreement to purchase 90 per cent of the share capital of Enermore S.r.l, a company held by German holding company, Natural Resources Holding AG.

Enermore S.r.l. specializes in storage system installation and maintenance consultancy, design and control.

The transaction is expected to close by the first half of June 2024. Following the closing, the governance of the company – which will retain its current name will be “entrusted to a board of directors, of which Energy S.p.A. will hold the majority,” a statement said.

“In line with the company’s growth strategy, the acquisition aims to strengthen the Energy Group’s know-how regarding the integration of storage systems into power generation plants, with the goal of extending the technical service offering to the renewable energy sector supply chain,” the statement added.

The acquisition will take place in cash, based on an assessed Enterprise Value of €2.2 million, net of the forecast net financial position of approximately €1.2 million at the closing date of the transaction.

In 2023, Enermore reported sales of €3.8 million and EBITDA of €0.5 million.

“The acquisition of Enermore S.r.l. brings with it many advantages: primarily, the Energy S.p.A. Group can now offer more engineering support for the design and construction phases of medium to large plants, increasing the quantity and quality of services for our clients,” said Energy S.p.A. CEO Davide Tinazzi. “The geographic proximity to the D-A-CH [Germany, Austria and Switzerland] area will facilitate communication and mutual understanding in the negotiation, planning and execution of complex projects in the focus areas. An additional benefit is that Enermore is the bridgehead for our consolidation in the D-A-CH market, where it has been present for many years both with significant projects and offering through its own distribution network products that complement Energy’s range of solutions. Finally, a further advantage is the ability to provide control electronics and field edge software, complementary to the type of widespread cloud software offered by EnergyInCloud S.r.l., which was acquired in 2023.”


  • Tamarindo, the publishers of Energy Storage Report, has launched the Energy Storage Investment Awards 2024 – you can download the entry pack here: