Sunprime

Sunprime S.r.l. operates as a fast-growing independent power producer in the Italian renewable energy sector. Established in Milan in 2020 by a team of energy sector professionals, the company has rapidly evolved into a vertically integrated operator within the photovoltaic market. The founding team includes Gabriele Angeli, the current CEO, who brings experience from his family's business, Angeli Group, which has a long history in general construction and the oil & gas sector. This background provided the impetus for diversifying into renewables. He is joined by co-founders Antonio Mazzitelli, Fulvio Mariani, and Derek Tomasi, each contributing extensive experience in the Italian and international energy, renewables, and engineering sectors.

The company's core business involves the development, construction, and management of sustainable photovoltaic systems across Italy. Sunprime targets the commercial and industrial (C&I) segment, focusing on installing solar panels on rooftops and developing ground-mounted systems on industrial land to minimize the use of agricultural soil. A key aspect of its business model is offering solutions that require no upfront investment from its clients, who are typically owners of industrial and agricultural properties. The company generates value by redeveloping properties, for instance by covering the costs of removing and disposing of asbestos roofs, and in return utilizes the rooftop space for energy generation through a right of surface agreement. Revenue streams are diversified; Sunprime either enters into long-term power purchase agreements (PPAs) or sells the generated electricity directly on the market. The company is also expanding into utility-scale Battery Energy Storage Systems (BESS).

Since its inception, Sunprime has secured significant capital. Following an initial management investment, the company raised over €90 million in equity from Nofar Energy, a publicly traded international renewables company, and Noy Fund, a major Israeli infrastructure fund. This financial backing has supported substantial growth, evidenced by successful participation in GSE (Gestore dei Servizi Energetici) auctions, securing tariffs for over 240 MW of projects. As of early 2024, Sunprime has a robust pipeline with over 250 MW of projects ready for construction and an additional 500 MW in development, aiming to achieve 1 GW of operational photovoltaic and BESS capacity by 2027.

Keywords: independent power producer, photovoltaic systems, commercial & industrial solar, renewable energy Italy, solar development, EPC, asset management, asbestos roof removal, industrial land redevelopment, Battery Energy Storage Systems, BESS, power purchase agreement, energy generation, solar project financing, GSE auctions, Nofar Energy, Noy Fund, Gabriele Angeli, sustainable energy, distributed generation, C&I solar