What Frendy Energy does

Frendy Energy S.p.A. is an Italian publicly listed renewable-energy producer (Euronext Growth Milan: FDE) that generates electricity exclusively from mini-hydroelectric power plants. Founded in 2006 and listed in 2012, the company operates a fixed fleet of 15 mini-hydro plants sited primarily on irrigation canals in Lombardy (Pavia province) and Piedmont (Novara and Cuneo provinces), producing electricity sold directly into the Italian grid. The company's core technological asset is the proprietary Sommersa® turbine, developed in 2013 in collaboration with Gruppo Scotta and purpose-engineered to exploit small water jumps characteristic of irrigation infrastructure.

The business model is that of a pure-play power producer: revenue is a function of installed capacity, hydrological conditions, and wholesale power prices, with no direct retail customers and no disclosed pricing tiers. Capital structure and corporate governance are dominated by Edison S.p.A., which has held a 76.971% controlling stake since a 2017 public tender offer (OPA) approved by CONSOB; Frendy Energy is subject to Edison's direction and coordination and shares its back-office, DPO, and PEC infrastructure with the parent. Reported revenue has been volatile and small in absolute terms — €1.8M in FY2025 (down from €2.4M in FY2024) — with operating profit (MOL) of €642k in FY2025 and a workforce of 11–50 employees.

Since the 2018 merger-by-incorporation of wholly-owned subsidiaries Alfa Idro S.r.l. and CCS Blu S.r.l., there have been no announced plant additions, geographic expansions, or material strategic pivots; operational scale and revenue appear bounded by the existing 15-plant asset base, and growth (or contraction) is principally driven by weather and Italian power-market dynamics rather than by active corporate expansion.

Name

Frendy Energy

Legal name

Frendy Energy S.p.A.

Website

https://frendyenergy.edison.it

Company type

Public

Founded year

2006

Operating status

Operating

Headcount range

11–50 employees

Short description

Frendy Energy S.p.A. is an Italian listed (Euronext Growth Milan: FDE) mini-hydroelectric power producer that operates 15 plants on Lombardy and Piedmont irrigation canals, sells electricity to the Italian grid, and is 76.971% controlled by Edison S.p.A.

Ownership category

akta.pro rank

Product category

Renewable Energy / Mini-Hydroelectric Power Generation

NAICS

Hydroelectric Power Generation (221111), Turbine and Turbine Generator Set Units Manufacturing (333611)

SIC

Engines & Turbines (3510), Motors & Generators (3621)

akta.pro primary industry

Run-of-River Hydroelectric Generation (EUACAEAA)

akta.pro secondary industry

Turbines, Generators & Hydromechanical Equipment Manufacturing (OEMs) (EUACAEAH)

Keywords

• Mini-hydroelectric power
• Renewable energy production
• Irrigation canal turbines
• Electricity generation
• Clean energy facilities

Headquarters

HQ city

Milano

HQ country

Italy

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Technology or R&D, Personnel, Others

Revenue model

1. Electricity Production and Sales: Frendy Energy generates revenue through the production of electricity from its 15 mini-hydroelectric plants located in Lombardy and Piedmont, Italy. The company sells electricity to the grid. Revenue is variable based on hydrological conditions and energy prices.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Frendy Energy generates and sells electricity from 15 mini-hydroelectric power plants located on irrigation canals in Lombardy and Piedmont, Italy. The company uses its proprietary Sommersa® turbine technology — developed with Gruppo Scotta in 2013 — to optimally exploit small water jumps, producing renewable electricity through automated and flexible generation systems that feed the Italian electricity grid.

Product overview

Frendy Energy is a hydroelectric energy producer specializing in mini-hydroelectric power generation in Italy. The company operates 15 mini-hydro plants situated on irrigation canals in Lombardy and Piedmont regions, using proprietary technology including the Sommersa® turbine. The core offering is electricity production through efficient, automated, and flexible hydroelectric generation.

Differentiator

Problem solved

Functional benefit

Brands

• Sommersa®: Proprietary turbine technology developed in collaboration with Gruppo Scotta in 2013, designed to optimally exploit water jumps in irrigation canals.

Products and services

• Mini-Hydroelectric Power Plants 15 mini-hydroelectric power plants located on irrigation canals in Lombardy (Pavia province) and Piedmont (Novara and Cuneo provinces), Italy. The plants produce electricity through automated and flexible generation systems for sale to the Italian electricity grid.
• Sommersa® Turbine A proprietary turbine technology developed in collaboration with Gruppo Scotta, designed to optimally exploit small water jumps on irrigation canals for hydroelectric power generation. Used to equip Frendy Energy's mini-hydro plants.

Quantifiable outcome

• Electricity production of 10,046 MWh in 2019 from 15 mini-hydro plants

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

One partnership is on record.

• Gruppo ScottacoreStrategic or Co-development Partner · 1 January 2013Gruppo Scotta collaborated with Frendy Energy in 2013 to develop the Sommersa® turbine, a specialized turbine designed to optimally exploit water jumps in irrigation canals for hydroelectric power generation.

Scale indicators8 records

Recent moves8 records

Expansion highlights4 records

Direct peers

• Alperia S.p.A. Alperia is an Italian (South Tyrol) hydroelectric operator running mini and small-hydro plants on Alpine waterways and irrigation infrastructure. Directly comparable as a regional mini-hydro producer with similar technology and grid-sale business model in Northern Italy.
• A2A S.p.A. A2A is an Italian multi-utility operating hydroelectric and other renewable generation assets in Lombardy and other Northern Italian regions. It is a direct comparable given overlapping mini-hydro operations in the same Italian geography and exposure to Italian grid offtake economics.
• ERG S.p.A. ERG is an Italian independent power producer with renewables including hydroelectric assets alongside wind and solar. Comparable as a listed Italian pure-play renewables operator exposed to similar Italian energy market dynamics, though at much larger scale.
• Iren S.p.A. Iren is an Italian multi-utility with a significant hydroelectric generation portfolio concentrated in Northern Italy, including mini-hydro on irrigation canals. Comparable as a regional hydro generator serving the Italian grid with similar hydrology and regulatory exposure.

Broad incumbents

• Edison S.p.A. Edison is Frendy Energy's controlling shareholder (76.971%) and Italy's oldest energy company, operating a broad portfolio of thermal, hydro, and renewable generation. Comparable as the parent and largest hydro operator in the same Italian market, with Frendy essentially acting as its mini-hydro vehicle.
• Enel Green Power S.p.A. Enel Green Power is the global renewable energy arm of the Enel Group with a large Italian hydro portfolio alongside wind, solar, and geothermal. Comparable as a major Italian hydro operator selling to the same grid, but operates at vastly greater scale and across multiple technologies.
• ACEA S.p.A. ACEA is a major Italian multi-utility with hydroelectric and other renewable generation assets, predominantly in Central Italy. Comparable as a listed Italian utility with hydro generation exposure and similar regulatory and grid-offtake dynamics, though at materially larger scale.

Emerging players

• ASM Terni S.p.A. ASM Terni is a smaller Italian municipal utility with mini-hydro and other renewable generation assets in Umbria. Comparable as a smaller Italian hydro operator with similar plant scale and grid-sale economics, though in a different region.

Regional players

• Hera S.p.A. Hera is an Italian multi-utility operating in Emilia-Romagna and surrounding regions with some renewable (including hydro) generation assets. Comparable as a regional Italian utility with mini/small hydro exposure and grid-sale revenue model, primarily serving a different regional geography.

Others

• Gestore dei Servizi Energetici (GSE) counterparties — small IPP operators: GSE administers Italian renewable incentive schemes (feed-in tariffs, green certificates) that underpin economics for small hydro operators like Frendy. Comparable as the regulatory/counterparty framework enabling Frendy's revenue model and a useful comparison point for small Italian renewable IPP economics.

Market position

Strengths1 record

Weaknesses1 record

Competitive moat3 records

Key risks5 records

Key highlights5 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries3 records

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 Frendy Energy