Altea Green Power
Renewable energy co-developer specializing in utility-scale projects.
| Date | Investors | Amount | Round |
|---|---|---|---|
| N/A | €0.0 | round | |
* | €10.0m | Post IPO Debt | |
| Total Funding | 000k | ||
Founded in 2008 by Giovanni Di Pascale, Altea Green Power S.p.A. is an Italian firm specializing in the renewable energy sector, listed on the Euronext STAR Milan segment of the Italian Stock Exchange. Initially focused on providing Engineering, Procurement, and Construction (EPC) services for solar and wind plants, the company shifted its core business in 2018 to the co-development of large-scale renewable energy projects. This strategic pivot targets the high value-added phases of project development, from site selection and permitting to design and engineering, often in partnership with major international investment funds and utilities.
The company's business model is centered on co-development, which accounts for the majority of its revenue. Altea Green Power manages the initial, complex stages of a project's lifecycle before transferring the investment vehicle to a client, which includes affluent international firms with diverse global portfolios. This agile approach is evolving into a hybrid model that will gradually integrate asset ownership to create more recurrent revenue streams. A significant portion of its activity is concentrated on Battery Energy Storage Systems (BESS), a sector where it was an early entrant and is now a market leader in Italy. The company also develops photovoltaic and wind projects and is expanding into hybrid solutions, including photovoltaic-storage-hydrogen systems.
Headquartered in Rivoli, near Turin, the company has expanded its operations internationally, with a strategic focus on the U.S. market. In 2022, it established joint ventures in the United States to co-develop BESS projects, notably in Texas and Arizona. Altea Green Power serves a range of clients, from individuals and SMEs seeking turnkey renewable solutions to large corporations and investors involved in utility-scale projects. Revenue is generated primarily through its co-development activities and the construction of renewable energy plants.
Keywords: renewable energy, co-development, energy storage, BESS, photovoltaic, wind power, project development, EPC, utility-scale, energy efficiency