Avapa Energy

What Avapa Energy does

Avapa Energy is a privately held Italian renewable energy project developer founded in 2019 and headquartered in Milan (with operations in Bologna). The company structures utility-scale renewable energy projects — solar photovoltaics (including agrivoltaic systems), floating offshore wind, energy storage, and green hydrogen production — for institutional investors across Italy and additional geographies including Japan, Taiwan, the USA, Germany, and four continents through its AvenHexicon joint venture. Its core product portfolio comprises four pillars: Agri-PV and Storage (elevated or rotating agrivoltaic structures co-located with agriculture and integrated with battery storage), Off-Shore Wind (floating platforms using TwinWind technology licensed from Hexicon AB), Green Hydrogen (10 MW-class PEM electrolyzer plants coupled with compression and storage, with a co-developed patent-pending HC2H2 system built with SATE), and Net-Zero Fuels (biomethane and blue hydrogen production).

Avapa earns revenue through professional services fees for project origination, structuring, technical optimization, and asset management, plus long-dated electricity sales via Power Purchase Agreements (PPAs) once projects reach operation; projects are designed to achieve grid parity independent of government subsidies. Its go-to-market is enterprise field sales targeting infrastructure funds, pension funds, and other institutional investors, supported by relationships with a London-based infrastructure fund (USD 10B+ AUM) and a Swiss investment firm (USD 2B+ AUM). Notable capital partners include Ingka Investments (IKEA's investment arm), which in July 2023 acquired a 49% stake in the company's Italian solar PV portfolio, and Oxan Energy, with which Avapa is co-developing 2.45 GW of floating offshore wind capacity in Sicily and Sardinia. The company employs 1-10 people and leverages a partnership-driven model with Hexicon AB, SATE, Watson Farley & Williams, and Glennmont Partners to execute its pipeline.

Name

Avapa Energy

Legal name

Avapa Energy Srl

Website

https://avapaenergy.eu

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

1–10 employees

Short description

Avapa Energy is a Milan-based renewable energy project developer founded in 2019 that structures utility-scale solar PV, agrivoltaic, floating offshore wind, and green hydrogen projects for institutional investors across Italy, Europe, and Asia.

Ownership category

akta.pro rank

Product category

Renewable Energy Project Development

NAICS

Electric Power Generation (22111), Wind Electric Power Generation (221115), Solar Electric Power Generation (221114)

SIC

Electric Services (4911)

akta.pro primary industry

Development Management & Owner’s Engineering (Design Basis, Yield, Technical Due Diligence) (EUAMAAAG)

akta.pro secondary industries

Commercial Structuring & Offtake (PPAs, CfDs, Corporate PPAs, Merchant Strategy) (EUAMAAAE), Renewable Energy Infrastructure (FSAAAKAG)

Keywords

• Renewable energy development
• Utility-scale solar
• Offshore wind projects
• Green hydrogen production
• Agrivoltaic systems

Headquarters

HQ city

Bologna

HQ country

Italy

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales

Revenue model

1. Project Development and Structuring: Avapa Energy earns fees from structuring and developing utility-scale renewable energy projects for institutional investors. Revenue is generated through the sale of electricity via Power Purchase Agreements (PPAs) with trading firms or corporations, with projects designed for grid-parity independent of government subsidies.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels2 records

Core offering

Avapa Energy develops and structures utility-scale renewable energy projects for institutional investors, spanning four core areas: agrivoltaic solar photovoltaic plants with energy storage (Agri-PV and Storage), floating offshore wind projects via the AvenHexicon joint venture using TwinWind technology, green hydrogen production plants using PEM electrolyzers powered by solar and wind, and net-zero fuels including biomethane and the patent-pending HC2H2 hydrogen system. Revenue is generated through fees from project structuring and the sale of generated electricity via Power Purchase Agreements (PPAs).

Product overview

Avapa Energy offers an integrated portfolio of utility-scale renewable energy development services and projects spanning four core areas: Agri-PV and Storage (agrivoltaic solar plants with energy storage), Off-Shore Wind (floating offshore wind via AvenHexicon joint venture using TwinWind technology), Green Hydrogen (PEM electrolyser-based hydrogen production from solar and wind), and Net-Zero Fuels (bio-methane and blue hydrogen systems). The company provides end-to-end project development from origination through financing and asset management.

Differentiator

Problem solved

Functional benefit

Products and services

• Agri-PV and Storage Utility-scale agrivoltaic solar photovoltaic plants designed to coexist with agricultural production, incorporating elevated fixed or rotating photovoltaic structures. Includes integrated renewable energy storage systems (ESS) for grid flexibility and renewable energy penetration enhancement. Designed for institutional investors with revenue from electricity sales through PPAs at grid parity independent of government subsidies.
• Off-Shore Wind Floating offshore wind energy development utilizing TwinWind technology licensed from Hexicon AB. Develops sea areas for construction of offshore wind farms with co-location opportunities for storage, solar, desalination, and green hydrogen technologies. Active in four continents through the AvenHexicon joint venture with project portfolio potential to supply over 10 million households.
• Green Hydrogen Large-scale green hydrogen production plants using PEM electrolyser technology powered by solar photovoltaics and off-shore wind energy. Includes 10 MW PEM stack electrolyser coupled with medium/high-pressure compression stations and 2-day compressed gas storage for daily production of over 4,000 kg of green hydrogen. Designed for industrial and transport applications.
• Net-Zero Fuels Bio-methane production from greenfield projects and biogas conversion for transportation sector (agri-food logistics, public transport, heavy transport) needing compressed or liquefied biomethane. Includes the HC2H2 blue hydrogen production system developed with SATE using a PEM electrolyser fed by solar/wind electricity combined with an internal combustion engine using produced oxygen in a closed CO2 cycle with sequestration for industrial use.

Quantifiable outcome

• Hydrogen demand projected to grow five-fold by 2050 according to McKinsey report
• +2 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Four partnerships are on record, tiered core and minor.

• Oxan EnergycoreStrategic or Co-development Partner · 1 March 2025Avapa Energy partnered with Oxan Energy and Ingka Investments on two floating offshore wind development projects in Italy (Sicily South and Sardinia Northwest) with combined installed capacity of 2.45 GW. The consortium launched public consultation for a 1.14 GW offshore wind project in May 2026.
• Hexicon ABcoreStrategic or Co-development Partner · 1 December 2021In December 2021, Avapa Energy formed AvenHexicon Srl, a joint venture with Swedish company Hexicon AB. The partnership focuses on early-stage project development and TwinWind™ floating wind technology development and licensing in Italy. Hexicon has developed TwinWind™ design to optimize floating wind performance, offering stable, efficient, and cost-effective platforms. AvenHexicon is currently active in four continents with a gross project portfolio potential to supply over 10 million households.
• SATE (System & Advanced Technologies Engineering)coreStrategic or Co-development PartnerAvapa Energy is co-developing with SATE a patent-pending hydrogen production system (HC2H2). The system combines a PEM electrolyzer fed by solar/wind electricity with an internal combustion engine using produced oxygen, operating on a closed CO2 cycle with sequestration for industrial applications.
• Watson Farley & Williams (WFW)minorImplementation/ SI/ Consulting PartnerAvapa Energy, WFW, and Hexicon joined forces in August 2022 for the development of 5 offshore wind energy plants in Italy. WFW provides legal advisory services for the project structuring.

Scale indicators13 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Sonnedix: Global solar PV developer and IPP with a large European operating portfolio. Comparable as a utility-scale renewable developer that originates, builds, and sells/operates assets for institutional investors, with strong overlap in the Italian market.
• European Energy: Danish developer of utility-scale solar, wind, and green hydrogen projects across Europe and beyond. Closely matches Avapa's profile of multi-technology renewable origination, including emerging focus on green hydrogen and agrivoltaic applications.
• OX2: Nordic-origin renewable energy developer with a large European wind, solar, and storage pipeline developed for institutional investors. Comparable as a utility-scale project developer scaling across multiple technologies and geographies.
• Hexicon AB: Swedish developer of floating offshore wind technology (TwinWind™). Direct partner in the AvenHexicon JV and the licensor of Avapa's floating wind IP; competes in the same floating offshore wind origination space, particularly in Italy and the Mediterranean.
• Eolus Vind: Swedish wind power project developer with a long-standing track record of originating onshore and offshore wind projects for sale to utilities and investors. Comparable as a pure-play renewable project developer with both Nordic and southern European presence.
• Renantis (formerly Falck Renewables): Italy-headquartered renewable energy developer and operator with a multi-utility-scale wind, solar, and storage portfolio. Closely comparable to Avapa in target geography (Italy), technology mix (utility-scale renewables), and institutional investor customer base.
• Q-Energy: European renewables developer (spin-off from Qualitas Energy) focused on utility-scale wind, solar, and storage across Spain, Italy, Germany, and the UK. Direct competitor in southern European project origination for institutional investors.

Others

• Glennmont Partners: BNP Paribas-owned fund manager investing in renewable energy infrastructure across Europe. Listed as a partner/financier of the AvenHexicon JV (EUR 45M facility) and represents the same institutional capital pool that Avapa targets as its customer base.

Broad incumbents

• Copenhagen Infrastructure Partners (CIP): One of the world's largest fund managers within renewable energy infrastructure with multi-billion pipelines across offshore wind, solar, and green hydrogen. Represents both a potential capital partner and a competitive developer for institutional renewable mandates.
• ERG: Italian pure-play renewable energy operator with significant wind and solar capacity. An incumbent in the same Italian market where Avapa is developing utility-scale assets, providing both competitive pressure and a benchmark for Italian renewables IRRs.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/avapa-energy

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

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 Avapa Energy