Erg

What Erg does

ERG S.p.A. is an Italian publicly listed independent renewable energy operator headquartered in Genoa, operating across eight European countries and the United States. The company runs onshore wind farms in Italy, France, Germany, Poland, Bulgaria, Romania, the United Kingdom, and the United States, supplemented by photovoltaic installations primarily in Spain and battery storage assets. Originally founded in 1938 as a metallurgy business, ERG transitioned through oil and gas exploration before executing a decade-long strategic transformation into a pure-play "Wind & Solar" operator. It is the leading onshore wind operator in Italy and ranks among the top ten in Europe.

The company's core business consists of generating electricity from owned wind and solar assets, selling into European and US wholesale markets, and supplying corporate customers through long-term Power Purchase Agreements (PPAs). ERG also participates in regulated capacity market auctions to generate grid stability revenue. Technical capabilities include repowering and reblading of aging wind assets (e.g., the Partinico-Monreale park in Sicily), battery storage integration, and an AI-driven infrastructure inspection solution deployed with Hitachi Energy that has reduced on-site inspection time by 35%. ERG owns nearly 4 GW of installed capacity, produced nearly 6,000 GWh between 2022 and 2024 (25% growth), and in January 2026 completed a £112.9 million acquisition of seven UK wind farms (73 MW) from OnPath Energy.

Revenue is generated primarily through wholesale electricity sales (usage-based) and long-term PPAs (recurring), with capacity market payments and selective asset rotation providing additional streams. The company reports a 2025 EBITDA of EUR 540 million and Q1 2026 adjusted EBITDA of EUR 167 million (16% year-on-year growth), with 2026 full-year EBITDA guidance of EUR 520–590 million. Customer segments are dominated by corporate and industrial energy consumers procuring renewable power via PPAs and transmission system operators purchasing grid stability and capacity services, with residential end-users reached indirectly via the grid. ERG is ranked the top wind company in Corporate Knights' Global 100 Most Sustainable Corporations for 2025, and an OPA (mandatory tender offer) by ERG S.p.A. is referenced in investor relations disclosures.

Name

Erg

Legal name

ERG S.p.A.

Website

https://erg.eu

Company type

Public

Founded year

1938

Operating status

Operating

Headcount range

501–1,000 employees

Short description

ERG is an Italian publicly listed independent renewable energy operator generating and selling wind, solar, and battery storage power across eight European countries and the United States, serving corporate buyers via PPAs and grid operators via capacity markets.

Ownership category

akta.pro rank

Headquarters

HQ city

Genoa

HQ country

Italy

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Technology or R&D, Personnel, Supply Chain

Revenue model

1. Wholesale Power Generation and Sale: ERG generates electricity from wind and solar assets and sells power into wholesale energy markets across Europe and the US. Revenue is driven by captured electricity prices, wind resource conditions, and plant availability.
2. Power Purchase Agreements (PPA): Long-term contracts with corporate and industrial customers for supply of renewable energy, providing stable revenue visibility and hedging against spot price volatility.
3. Capacity Market: Participation in capacity markets to provide grid stability services, generating additional revenue streams from capacity availability payments.
4. Asset Rotation: Strategic acquisition and potential divestment of renewable energy assets to optimize portfolio performance and recycle capital.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

ERG is an independent pure-play renewable energy operator that generates electricity from a portfolio of onshore wind farms and photovoltaic plants totaling nearly 4 GW of installed capacity across 9 European countries and the United States. The company sells generated power into wholesale markets, supplies corporate and industrial customers through long-term Power Purchase Agreements (PPAs), and participates in capacity market auctions. ERG also operates battery storage assets and offers technical repowering and reblading services to extend the life and efficiency of wind farms.

Product overview

ERG is an independent pure-play renewable energy operator focused on Wind and Solar generation. The company operates a portfolio of onshore wind farms across eight European countries and the United States, supplemented by photovoltaic plants primarily in Spain, and battery storage solutions. The core offering consists of wind and solar energy generation assets, complemented by energy management services including PPAs for corporate customers and capacity market participation. ERG's business model centers on operating, developing, and repowering renewable energy assets rather than offering software products or technology platforms.

Differentiator

Problem solved

Functional benefit

Products and services

• Wind Energy (Onshore Wind Farms)

Quantifiable outcome

• 35% reduction in on-site inspection time through HMAX AI solutions partnership with Hitachi
• +4 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Five partnerships are on record, tiered core and minor.

• OnPath EnergycoreStrategic or Co-development Partner · 20 January 2026ERG acquired 7 onshore wind farms (73 MW total installed capacity) from OnPath Energy for £112.9 million. The assets were commissioned between 2011-2017 and are supported by UK Renewables Obligation Certificates. OnPath Energy continues to manage the sites as operator on behalf of ERG following completion of the transaction.
• Natural PowerminorImplementation/ SI/ Consulting Partner · 20 January 2026Natural Power acted as technical advisor in OnPath Energy's sale of 7 wind farms to ERG, providing comprehensive due diligence services. Following completion, Natural Power continues as site operator for the sold assets.
• Pinsent MasonsminorImplementation/ SI/ Consulting Partner · 20 January 2026Pinsent Masons provided full-service advisory support across Corporate, Tax, Property, Planning, Construction, and Energy teams for ERG's acquisition of 7 onshore wind farms from OnPath Energy.
• Hitachi EnergycoreTechnology or Integration · 6 January 2026Hitachi Energy partnered with ERG to deploy its HMAX Energy AI-powered solutions suite for critical energy infrastructure optimization. The solution integrates perception AI, generative AI, agentic AI, and physical AI with data from physical assets and domain expertise. Measurable results include 35% reduction in on-site inspection time for ERG's Italian operations.
• Mitsubishi Corporation RtM Japan LtdminorChannel Partner/ Reseller/ Distributor · 24 December 2025ERG, through its Kazakhstan operations, secured a long-term contract with Mitsubishi Corporation RtM Japan Ltd for the supply of gallium. The contract was signed during Kazakhstan President Tokayev's visit to Japan and supports Kazakhstan's goal to become a global leader in gallium production.

Scale indicators13 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• RWE: German utility undergoing a strategic pivot from fossil generation to renewables, with a large and growing European wind and solar portfolio. Comparable to ERG in onshore wind focus and European footprint, with broader legacy generation.
• Engie: French multinational utility with major renewable energy operations across wind, solar, hydro, and storage. Comparable to ERG in European wind/solar generation and PPA offerings, particularly across France, Spain, and other overlapping European geographies.
• NextEra Energy: US-headquartered operator of Florida Power & Light and NextEra Energy Resources, the world's largest generator of wind and solar energy. Comparable to ERG in pure-play wind/solar generation focus but with a primarily US footprint and far larger scale.
• Iberdrola: Spanish global utility and one of the world's largest wind operators, with onshore and offshore wind across Europe, the Americas, and Australia. Comparable to ERG in generation technology and European market overlap, but operates a much broader regulated utility business.
• Vattenfall: Swedish state-owned utility with significant wind power operations across Northern Europe, including the UK, Germany, Netherlands, and Scandinavia. Overlaps with ERG in European wind generation and PPA-driven business, though within a broader integrated utility.
• Enel (Enel Green Power): Italian-headquartered global utility with Enel Green Power as its renewables arm, operating wind, solar, and hydro across Europe, the Americas, Africa, and Asia. Direct geographic overlap with ERG in Italy and similar renewable generation mix, but embedded within a much larger integrated utility.

Direct peers

• Orsted: Danish-headquartered global leader in offshore and onshore wind energy generation. Comparable to ERG as a pure-play renewables operator with multi-jurisdictional presence and exposure to PPA markets, though with greater offshore focus.
• Encavis: German IPP and wind/solar operator with a pan-European portfolio of onshore wind and solar PV assets. Comparable to ERG as a pure-play renewables operator focused on onshore wind generation and PPA-style revenues, though smaller in scale.
• Acciona Energía: Spanish pure-play renewable energy operator with significant wind and solar generation capacity across Europe, the Americas, and other regions. Closely mirrors ERG's wind-and-solar generation model and ESG positioning.
• EDP Renováveis (EDPR): EDPR is one of the world's largest pure-play wind and solar operators with European and US operations. Highly comparable to ERG in business model (wind/solar generation, PPAs, multi-jurisdictional footprint) and asset scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/ERGnow
• YouTubeyoutube.com/@ERG_Group
• Facebookfacebook.com/ERGGroup
• LinkedInlinkedin.com/company/erg
• Instagraminstagram.com/erg_group

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries1 record

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Erg