Alerion Clean Power
- Company typePublic
- Founded2000
- HeadquartersMilan, Italy
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Alerion Clean Power does
Alerion Clean Power S.p.A. is an Italian pure-play renewable energy operator listed on Euronext Milan (BIT:ARN) since 2003 and headquartered in Milan. The company generates and sells electricity exclusively from wind, solar, and battery energy storage systems (BESS), operating 1,021+ MW of installed capacity across Italy, Romania, Ireland, and (in development) the United Kingdom, producing 1,267 GWh in FY2025. Its portfolio spans onshore wind farms with multi-megawatt turbines (2 MW to 4.5 MW units with hub heights up to 120 m), utility-scale photovoltaic plants ranging from 4.02 MWp to 34.69 MWp, and energy storage assets. Notable operational assets include Tramezzo (29.4 MW, Apulia), Plose (34.69 MWp, Romania), Anemos (50 MW, Sicily), and the recently acquired Milestone Wind Farm (14.4 MW, Ireland), with a 130.5 MW Romanian wind pipeline under a Vestas supply contract targeting H1 2027 commissioning.
Alerion monetizes electricity through long-term power purchase agreements, regulated incentive schemes such as Ireland's REFIT, and merchant pricing, with revenue flowing primarily to national grid operators (Terna in Italy, and analogous off-takers in other markets). FY2025 revenue reached €246.9 million with €191 million EBITDA and €94 million net profit, supporting a €0.61/share dividend (~€33 million total). The company pursues an equity recycling model — combining full ownership with partnerships such as the Alperion joint venture with Alperia, plus periodic asset divestitures (notably the December 2025 sale of Eolica PM S.r.l. to Estra S.p.A. for €155.9M EV) — to free capital for new high-value renewable investments.
Capital structure is anchored by controlling shareholder Fri-El Green Power S.p.A. (~88.4% pre-capital increase, expected to dilute to ~80.3% post-raise). Alerion supplements operating cash flow with green bond issuances (€300M Green Bond 2026 at 4.625% due 2032) and a €135.6M equity raise approved in May 2026, the latter designed to expand free float from ~10% to ~19.7%. The 2025-2028 Industrial Plan funds an active development pipeline spanning Italy, Romania, Ireland, and the UK, positioning the company to scale capacity further while maintaining the pure-play renewable focus that differentiates it from diversified energy groups.
Alerion Clean Power firmographics
Firmographics- Name
- Alerion Clean Power
- Legal name
- ALERION CLEAN POWER S.P.A.
- Website
- https://alerion.it
- Company type
- Public
- Founded year
- 2000
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Ownership category
- akta.pro rank
Alerion Clean Power industry classification
Industry- Product category
- Renewable Energy Generation
- NAICS
- Wind Electric Power Generation (221115), Solar Electric Power Generation (221114), Electric Power Generation, Transmission and Distribution (2211)
- SIC
- Cogeneration Services & Small Power Producers (4991), Electric Services (4911)
- akta.pro primary industry
- Wind Turbines & Nacelle Prime Movers (IMAHAFAE)
- akta.pro secondary industries
- Renewable Grid Interconnection & Collector Systems (Solar/Wind) (IMAFAHAD), Microgrid Development, EPC & Integration (EUAMAJAB)
Keywords
Where Alerion Clean Power is headquartered
LocationHeadquarters
- HQ city
- Milan
- HQ country
- Italy
- HQ region
- Europe
Offices16 records
Markets served
Alerion Clean Power business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Infrastructure, Supply Chain, Personnel, Operations, Technology or R&D, Others
Revenue model
- Electricity Generation and Sale: Alerion generates electricity from its wind, solar, and storage plants and sells it, primarily under long-term power purchase agreements or incentive schemes (e.g., REFIT in Ireland). Revenue is recurring based on capacity utilization and market prices.
- Asset Disposals / Equity Recycling: The company periodically divests operating assets (e.g., sale of Eolica PM S.r.l. for €133.9 million) to optimize capital allocation and reinvest proceeds into new projects. This equity recycling model provides non-recurring but significant cash inflows.
- Green Bond Issuance: Alerion issues green bonds to raise debt capital for financing and refinancing wind, solar, and BESS projects. Completed issuances include €300M (2026-2032), €200M+ (2024-2030), and prior series. Bonds are listed on MOT and Euronext Dublin.
Go-to-market motion1 record
Distribution channels4 records
Marketing channels8 records
Alerion Clean Power product offering
Product offeringCore offering
Alerion Clean Power is a pure-play renewable energy operator that develops, owns, and operates utility-scale wind farms, photovoltaic (solar) plants, and battery energy storage systems (BESS). The company generates electricity from these assets and sells it primarily into national electricity grids (e.g., Terna in Italy) under long-term power purchase agreements, government incentive schemes such as REFIT in Ireland, and merchant market arrangements. Alerion also pursues an equity recycling model, periodically divesting operating assets to reinvest proceeds into new renewable energy projects.
Product overview
Alerion Clean Power S.p.A. is a pure-player renewable energy company focused exclusively on wind energy, solar energy, and energy storage solutions. The company operates a portfolio of wind farms and photovoltaic plants across Italy, Romania, and Ireland, with a combined installed capacity exceeding 1,021 MW as of 2025. Core operations include Wind Energy (energia eolica) using wind turbines, Solar Energy (energia solare) through photovoltaic plants, and Energy Storage systems including Battery Energy Storage Systems (BESS). The company is also active in project development with initiatives like BESS La Loma, and utilizes financial instruments such as Green Bonds to fund renewable energy projects.
Differentiator
Problem solved
Functional benefit
Brands
- Alerion: Primary commercial brand for renewable energy production including wind, solar, and energy storage operations
Products and services
- Wind Energy (Energia Eolica) Generation of electricity from wind through utility-scale wind farms equipped with multi-megawatt turbines (2 MW to 4.5 MW+, 120m hub heights). Plants include Bioenergia Srl (29.4 MW), Alperion Srl (10.95 MW), Wind Power Sud Srl (33.15 MW), Anemos Wind Srl (50 MW), FRI-EL Grottole Srl (54 MW), FRI-EL Guardionara Srl (24.65 MW), FRI-EL Anglona Srl (29.75 MW), and Milestone Wind Farm Ltd (14.4 MW, Ireland). Electricity is sold to grid operators and utilities.
- Solar Energy (Energia Solare)
- Energy Storage (BESS / Pumped Hydro)
Quantifiable outcome
- 1,267 GWh of renewable electricity produced in 2025
- +6 more outcomes
Companies that use Alerion Clean Power
Customer profileNamed customers1 record
Segments2 records
Ideal customer profiles2 records
Alerion Clean Power technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Alerion Clean Power partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered minor and core.
- Borsa Italiana S.p.A.minorAlerion's Green Bond 2026 is admitted to trading on the Mercato Telematico delle Obbligazioni (MOT) organized and managed by Borsa Italiana S.p.A. Alerion shares are listed on Euronext Milan.
- Central Bank of IrelandminorThe Central Bank of Ireland approved the prospectus for the €300 million Green Bond 2026 on January 21, 2026, which was subsequently passported into Italy. The bonds were also admitted to Euronext Dublin.
- Estra S.p.A. (Plures Group)coreAlerion sold 100% of Eolica PM S.r.l. (owner of 52 MW operating wind farm in Pontelandolfo, BN) to Estra S.p.A. for an Enterprise Value of €155.9 million (consideration ~€133.9 million in cash). Closing completed December 2025. This is a key equity recycling transaction under Alerion's 2025-2028 Industrial Plan, with potential for future industrial cooperation.
- Terna S.p.A.coreTerna is Italy's national electricity grid operator. Alerion's wind farms require Terna's authorization and grid connection to commence operations. The Tramezzo Wind Farm was energized following Terna's authorization, enabling it to begin feeding electricity into the national grid.
- Milestone Wind Farm LtdcoreAlerion acquired 100% of Milestone Wind Farm Ltd (14.4 MW onshore wind farm in County Tipperary, Ireland, operational since 2018 with 4 Vestas V105 turbines) for approximately €27 million through its subsidiary Alerion Ireland Limited. Expected annual production of ~40 GWh under REFIT incentive scheme.
- Wind Turbine Manufacturer (Vestas)coreDraghiescu Partners S.r.l. (subsidiary of Alerion Servizi Tecnici e Sviluppo S.r.l.) signed a contract for the supply of 29 wind turbines of 4.5 MW each (total 130.5 MW) for three Romanian wind projects. A medium-term Operation & Maintenance (O&M) contract was also signed. Target commissioning: H1 2027.
- Alperia (via Alperion Srl joint venture)coreAlperion Srl is a joint venture between Alerion Clean Power and Alperia, managing the Tramezzo Wind Farm (29.4 MW) in Apulia and potentially other projects. This partnership combines Alerion's renewable energy development expertise with Alperia's regional presence, and represents the first application of Alerion's equity recycling model.
Scale indicators16 records
Recent moves9 records
Expansion highlights6 records
Alerion Clean Power competitors and assessment
Company assessmentDirect peers
- ERG S.p.A. ERG is Italy's largest pure-play wind IPP with ~3.2 GW of installed wind capacity, listed on Borsa Italiana. Closely comparable to Alerion in geography (Italy-heavy), asset mix (wind plus solar and BESS additions), regulatory exposure, and equity-recycling strategy.
- Eni Plenitude (incorporating former Falck Renewables): Eni Plenitude integrates renewables (formerly Falck Renewables) with retail and EV charging. Falck was Alerion's closest Italian IPP peer before being acquired; Plenitude remains the most direct comparably structured Italian wind and solar IPP competitor.
- EDP Renováveis (EDPR): EDPR is one of Europe's largest listed wind and solar IPPs, with operations across Iberia, North America, and Europe. Comparable business model of utility-scale wind/solar development with PPAs, although much larger scale and broader geographic footprint than Alerion.
- Encavis AG: Encavis is a Germany-listed independent power producer operating wind and solar parks across Europe. Closely mirrors Alerion's pure-play onshore wind and solar IPP model, with a comparable mix of PPAs, merchant exposure, and capacity in the low-single-digit GW range.
Broad incumbents
- A2A S.p.A. A2A is a multi-utility Italian group with significant wind, hydro, and solar generation alongside networks and waste. Overlaps with Alerion in Italian renewable generation and PPAs but as a diversified incumbent rather than a pure-play operator.
- Iberdrola Renovables / Iberdrola Energía Internacional: Iberdrola operates a global renewables portfolio (~40+ GW) including onshore wind, offshore wind, and solar across Europe, the US, and LatAm. Comparable in underlying wind/solar IPP activities but vastly larger scale and integrated within a global multi-utility.
- Ørsted A/S: Ørsted is the global leader in offshore wind with significant onshore wind and solar. Compares to Alerion only at the renewables IPP level; much larger and offshore-heavy, but a benchmark for European renewable capital costs and PPA structuring.
Regional players
- SSE Renewables: SSE Renewables is the UK and Ireland-focused renewable arm of SSE plc, developing and operating onshore wind, offshore wind, hydro, and pumped storage. Relevant to Alerion for its presence in Ireland (REFIT) and its 35 MW Welsh project area.
Emerging players
- ABO Wind AG: ABO Wind is a German wind and solar project developer with European operations including Italy and Romania. Comparable to Alerion in project development capability, geographic overlap, and customer base, but project-development-led rather than asset-owning IPP.
Others
- Vestas Wind Systems A/S: Vestas is the world's largest wind turbine manufacturer and a key supplier to Alerion (Milestone uses V105 turbines; Romanian 4.5 MW turbine deal). Ecosystem counterpart: as a turbine OEM and O&M partner, it underpins Alerion's growth but does not directly compete as an IPP.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Alerion Clean Power social profiles
Digital presenceAlerion Clean Power financial estimates
Financial estimateRevenue estimate
Valuation estimate
Alerion Clean Power leadership team
Management profileNumber of profiles
Profiles9 records
Alerion Clean Power subsidiaries and ownership
Company hierarchySubsidiaries7 records
Alerion Clean Power funding detail
Funding detailFunding overview
Funding rounds2 records
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Alerion Clean Power 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 Alerion Clean Power
What does Alerion Clean Power do?
Alerion Clean Power is a pure-play renewable energy operator that develops, owns, and operates utility-scale wind farms, photovoltaic (solar) plants, and battery energy storage systems (BESS). The company generates electricity from these assets and sells it primarily into national electricity grids (e.g., Terna in Italy) under long-term power purchase agreements, government incentive schemes such as REFIT in Ireland, and merchant market arrangements. Alerion also pursues an equity recycling model, periodically divesting operating assets to reinvest proceeds into new renewable energy projects.
Is Alerion Clean Power a public or private company?
Alerion Clean Power is a public company. It is classified as public and is currently operating.
When was Alerion Clean Power founded?
Alerion Clean Power was founded in 2000. It employs 11 to 50 people.
Where is Alerion Clean Power based?
Alerion Clean Power is headquartered in Milan, Italy, in the Europe region.
How does Alerion Clean Power make money?
Three revenue lines are on record. Electricity Generation and Sale is the primary driver. The others are asset Disposals / Equity Recycling and green Bond Issuance.
Who are Alerion Clean Power's main competitors?
Direct peers on record are ERG S.p.A., Eni Plenitude (incorporating former Falck Renewables), EDP Renováveis (EDPR) and Encavis AG. Broad incumbents are A2A S.p.A., Iberdrola Renovables / Iberdrola Energía Internacional and Ørsted A/S. SSE Renewables is listed as a regional player. ABO Wind AG is listed as an emerging player. Vestas Wind Systems A/S is listed as an others.
Does Alerion Clean Power have an API?
No public API is recorded for Alerion Clean Power.
What industry is Alerion Clean Power in?
Alerion Clean Power's product category is Renewable Energy Generation. Its primary akta.pro industry code is IMAHAFAE, Wind Turbines & Nacelle Prime Movers, with a secondary code of IMAFAHAD, Renewable Grid Interconnection & Collector Systems (Solar/Wind). Its NAICS code is 221115 and its SIC code is 4991.