Innovo Renewables
Innovo Renewables is a Milan-based, fully integrated renewable energy developer and IPP operating across Italy, the UK, Spain, and Germany, developing solar PV, agrivoltaic, wind, and BESS projects through origination, in-house EPC, and long-term asset ownership.
- Company typePrivate
- Founded2022
- HeadquartersMilan, Italy
- Headcount101–250
- GTM typeB2B
- OfferingServices
What Innovo Renewables does
Innovo Renewables S.p.A. is a fully integrated renewable energy platform founded in 2022 and headquartered in Milan, Italy, operating across Italy, the United Kingdom, Spain, and Germany with offices in Milan, Rome, London, and Munich. The company develops utility-scale solar PV (including agrivoltaic), onshore wind, and battery energy storage system (BESS) projects, managing a development pipeline of approximately 8.6 GW of solar, 2.2 GW of battery storage, and 600 MW of wind as of January 2025. Its end-to-end model spans greenfield origination, in-house EPC management, equity co-investment via joint ventures, and long-term asset retention. Innovo distributes its activities through three operating vehicles: iCube Renewables, a 50:50 joint venture with Iberdrola Renovables Italia targeting 1.5 GWp of installed capacity in Italy; IG Renewables Limited, a wholly-owned UK development subsidiary; and Innovo PH Engineering Services, an engineering consultancy acquired in May 2025 from PH Consulting Engineering that provides Owner's Engineer services across Europe.
Innovo Renewables firmographics
Firmographics- Name
- Innovo Renewables
- Legal name
- Innovo Renewables S.p.A.
- Website
- https://innovorenewables.com
- Company type
- Private
- Founded year
- 2022
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Innovo Renewables is a Milan-based, fully integrated renewable energy developer and IPP operating across Italy, the UK, Spain, and Germany, developing solar PV, agrivoltaic, wind, and BESS projects through origination, in-house EPC, and long-term asset ownership.
- Ownership category
- akta.pro rank
Innovo Renewables industry classification
Industry- Product category
- Renewable Energy Development
- NAICS
- Solar Electric Power Generation (221114), Wind Electric Power Generation (221115), Electric Power Generation (22111)
- SIC
- Cogeneration Services & Small Power Producers (4991)
- akta.pro primary industry
- Wind Power Plant EPC (Onshore/Offshore) (EUAEAAAF)
- akta.pro secondary industries
- Electrical Balance-of-Plant EPC (MV Collection, Cabling, Earthing, Lighting) (EUAEADAB), Wind Balance-of-Plant EPC (Crane Pads, Turbine Foundations, Internal Roads) (EUAEADAI), Civil & Site Works EPC (Earthworks, Roads, Drainage, Foundations) (EUAEADAA), Commissioning, Testing & Energization Services (Pre-Commissioning, Grid Code Compliance) (EUAMAFAK), Transmission Interconnection & Line Works (Gen-Tie Lines, Overhead/Underground Lines) (EUAMAFAF), Temporary Construction Utilities & Logistics (Laydown Yards, Temporary Power, Transport) (EUAMAFAL), Environmental & Permitting Compliance During Construction (Erosion Control, Wildlife Mitigation, Monitoring) (EUAMAFAM), Hybrid Renewable Systems & Co-Optimization R&D (Solar+Wind+Storage, Multi-Resource Plants, Controls) (EUAMAOAI)
Keywords
Where Innovo Renewables is headquartered
LocationHeadquarters
- HQ city
- Milan
- HQ country
- Italy
- HQ region
- Europe
Offices4 records
Markets served
Innovo Renewables business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Supply Chain, Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales
Revenue model
- Project Development & Origination: Innovo originates and develops renewable energy projects from greenfield through to Ready-to-Build status. The company charges development fees and captures value through project sales or retained interests.
- Plant Construction (EPC): In-house EPC management team builds most projects developed. Revenue generated through construction contracts with full engineering, procurement, installation, and commissioning services.
- Capital Investment & Asset Operation: Company invests its own equity and manages JV investment platforms with partners. Strategy retains minority stake at asset level over long-term horizon, generating ongoing returns from power generation assets.
- Industrial PPA & Energy Supply: PV systems for industrial self-consumption with guaranteed PPA pricing. Benefits include savings compared to network prices, exemption from transmission charges, and green energy procurement for sustainability targets.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Multi-year contract | Industrial PV minimum 5MWp with PPA model |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels5 records
Innovo Renewables product offering
Product offeringCore offering
Innovo Renewables operates as a fully integrated renewable energy platform covering the entire project lifecycle from greenfield origination through ready-to-build status, in-house EPC construction, capital investment, and long-term asset operation. The company develops solar photovoltaic (including agri-PV), onshore wind, and battery energy storage system (BESS) projects across Italy, the UK, Spain, and Germany, serving utilities, industrial offtakers, landowners, and financial investors.
Product overview
Innovo Renewables operates as a fully integrated renewable energy platform offering development, construction, and long-term asset operation services across solar, wind, and battery storage technologies. The platform encompasses origination and development (greenfield to Ready-to-Build), plant construction with in-house EPC management, capital investment through proprietary equity and joint venture platforms, and long-term asset retention. Key products include Solar PV Development, Wind Power Development, BESS (Battery Energy Storage Systems), and Agrivoltaics solutions. The company operates through subsidiaries including IG Renewables Limited (UK) and joint ventures including iCube Renewables (50:50 with Iberdrola for Italy), with recent acquisition of Innovo PH Engineering Services expanding engineering consultancy capabilities across Europe.
Differentiator
Problem solved
Functional benefit
Quantifiable outcome
- Pipeline of 8.6 GW solar, 2.2 GW battery storage, and 600 MW wind representing ~10.9 GW total capacity under management as of January 2025
- +4 more outcomes
Companies that use Innovo Renewables
Customer profileNamed customers2 records
Segments4 records
Ideal customer profiles4 records
Innovo Renewables technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability3 records
Feature4 records
Innovo Renewables partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered core and flagship.
- PH Consulting EngineeringcoreInnovo acquired 100% of PH Consulting Engineering shares in May 2025, entering the German market. The company specializes in energy consulting for PV and BESS project development with offices in Rome and Munich. It recorded €2M revenue in 2024 (+156% YoY). Following acquisition, it operates as Innovo PH Engineering Services, providing Owner’s Engineer support to developers, IPPs, and financial institutions.
- Sopowerful FoundationflagshipPartnership through iCube joint venture to support solar-based electrification projects in vulnerable and underserved communities in developing countries, particularly Malawi and Tanzania. Innovo contributes financial donations and dedicates technical and administrative teams. The collaboration combines renewable energy innovation with social and environmental impact supporting SDG goals.
- Iberdrola Renovables ItaliacoreiCube Renewables is a 50:50 joint venture between Innovo Renewables and Iberdrola Renovables Italia for developing renewable energy projects in Italy. Innovo contributed its entire Italian pipeline of 614 MWp (474 MWp solar, 88 MWp wind, 52 MW storage). The JV aims to reach 1.5 GWp installed capacity over five years. Iberdrola's know-how and investment capacity accelerates project implementation.
- LandownerscoreLong-term land lease partnerships for solar farm development. Company builds relationships with landowners as valued partners throughout project lifecycle, enabling continued agricultural use through agrivoltaic arrangements while promoting biodiversity conservation and sustainable land usage.
- Industrial and energy-intensive companiescoreB2B partnerships with industrial and energy-intensive companies for on-site photovoltaic systems with self-consumption. Minimum 5MWp projects with PPA model, providing guaranteed energy savings, sustainability target achievement, and no initial investment required from partner.
Scale indicators11 records
Recent moves7 records
Expansion highlights6 records
Innovo Renewables competitors and assessment
Company assessmentDirect peers
- Encavis AG: Germany-based independent power producer operating utility-scale solar and wind parks across Europe. Highly comparable as a European renewable IPP with owned-and-operated generation assets and an acquisition-led growth model.
- Lightsource bp: UK-based utility-scale solar developer and operator backed by bp. Directly comparable in solar development, IPP transition, and European geographic presence (UK, Iberia, Italy).
- Sonnedix: Global solar IPP with a particularly strong European footprint, owning and operating utility-scale PV plants. Direct comparator on the solar IPP side, including in Italy, Spain and the UK where Innovo also operates.
- Akuo Energy: France-based independent renewable energy developer and IPP active across solar, wind, and storage in Europe and overseas. Comparable integrated developer + asset owner profile with similar mid-market scale.
- BayWa r.e. Germany-headquartered developer, EPC and operator of renewable energy projects across solar, wind and storage in Europe and globally. Closely mirrors Innovo's integrated development + EPC + asset management model.
- Scatec ASA: Norwegian renewable energy developer and IPP with solar, wind and storage across emerging and developed markets. Comparable vertically integrated model and JV structures with development partners.
- ERG S.p.A. Italian-listed renewable energy IPP with wind and solar generation across Europe. Most direct domestic Italian peer and benchmark for an integrated Italian renewable platform transitioning into storage.
Broad incumbents
- Eni Plenitude: Subsidiary of Eni developing renewables and retail energy offerings, including significant Italian solar and wind build-out. Larger incumbent competing for the same Italian utility-scale pipeline and industrial PPA off-takers.
- RWE Renewables: Major European renewable energy developer and operator across offshore/onshore wind, solar, and storage. Larger incumbent providing the benchmark for scale in European IPP transitions.
- EDP Renováveis: One of the world's largest wind/solar developers and IPPs with deep Iberian and broader European presence. Large incumbent competitor in the same geographies and PPA off-take markets as Innovo.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Innovo Renewables social profiles
Digital presenceInnovo Renewables compliance and trust
Trust signalCompliance6 records
Innovo Renewables financial estimates
Financial estimateRevenue estimate
Valuation estimate
Innovo Renewables leadership team
Management profileNumber of profiles
Profiles6 records
Innovo Renewables subsidiaries and ownership
Company hierarchySubsidiaries3 records
Innovo Renewables funding detail
Funding detailFunding overview
Funding rounds3 records
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Innovo Renewables M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Innovo Renewables
What does Innovo Renewables do?
Innovo Renewables operates as a fully integrated renewable energy platform covering the entire project lifecycle from greenfield origination through ready-to-build status, in-house EPC construction, capital investment, and long-term asset operation. The company develops solar photovoltaic (including agri-PV), onshore wind, and battery energy storage system (BESS) projects across Italy, the UK, Spain, and Germany, serving utilities, industrial offtakers, landowners, and financial investors.
Is Innovo Renewables a public or private company?
Innovo Renewables is a private company. It is classified as venture growth investor backed and is currently operating.
When was Innovo Renewables founded?
Innovo Renewables was founded in 2022. It employs 101 to 250 people.
Where is Innovo Renewables based?
Innovo Renewables is headquartered in Milan, Italy, in the Europe region.
How does Innovo Renewables make money?
Four revenue lines are on record. Project Development & Origination is the primary driver. The others are plant Construction (EPC), capital Investment & Asset Operation and industrial PPA & Energy Supply.
Who are Innovo Renewables's main competitors?
Direct peers on record are Encavis AG, Lightsource bp, Sonnedix, Akuo Energy, BayWa r.e., Scatec ASA and ERG S.p.A.. Broad incumbents are Eni Plenitude, RWE Renewables and EDP Renováveis.
Does Innovo Renewables have an API?
No public API is recorded for Innovo Renewables.
What industry is Innovo Renewables in?
Innovo Renewables's product category is Renewable Energy Development. Its primary akta.pro industry code is EUAEAAAF, Wind Power Plant EPC (Onshore/Offshore), with a secondary code of EUAEADAB, Electrical Balance-of-Plant EPC (MV Collection, Cabling, Earthing, Lighting). Its NAICS code is 221114 and its SIC code is 4991.