Benoît Collas and Gabriele Lania explain the opportunities and challenges of the Italian market

Why Has Enerfip chosen to develop in Italy?

Benoit: Italy is an ideal playground for Enerfip! With a booming renewable energy market, but still too few crowdfunding solutions, we identified a tremendous opportunity. Training at Bocconi University allowed us to meet local stakeholders and refine our understanding of the market. The result? A fertile ground to deploy our expertise and support the Italian energy transition!

What is your vision of crowdfunding in the development of renewable energy in Italy?

Gabriele :Crowdfunding represents a valuable solution for financing quality assets that still face obstacles in raising funds in Italy. It also offers credible players access to an alternative source of financing, where traditional channels do not cover all needs. This particularly concerns the development of projects in the design phase (greenfield) and the construction of smaller-scale infrastructure requiring less than €5 million.

What are the main challenges encountered during Enerfip's international deployment?

Benoit:Internationalization brings its share of challenges... Initially, we focused on both investors and projects, but we quickly refocused our strategy on supporting Italian project leaders. This led us to recruit an expert in financing and acquiring renewable energy projects in Italy. We also had to adjust our selection of local partners, particularly law firms, which took time. Adapting to the Italian regulatory framework was another key step: obtaining a local license and adjusting our internal organization to comply with administrative requirements required significant efforts. Finally, after reflecting on our geographical location, we decided to move our headquarters from Milan to Rome, which is more central and better suited to the needs of our teams.

What are the major trends in the renewable energy market in Italy today?

Gabriele:Italy is in the midst of an energy transformation, with growing mobilization of public and private stakeholders to accelerate the transition. The country has set itself an ambitious goal: to increase the share of renewable energy in its electricity production to 55% by 2030. To achieve this, it plans to more than double its installed solar and wind capacity over the next six years.

How does Enerfip adapt its model to the specificities of foreign markets?

Benoit:Adaptation involves several levers, such as those previously mentioned. But to give you another example, I'll talk about the case of audits. We apply the anti-corruption rules imposed by European regulations, but we must also take into account Italy's specific "anti-mafia" system, which requires additional controls. This is why we have opted for an even more cautious approach in selecting our clients.

What are the particularities of the Italian renewable energy market compared to France?

Benoit:On the surface, the penetration rates of renewable energy are similar between France and Italy, around 20%. But in reality, their energy dependencies differ: Italy is heavily dependent on gas, while France relies on uranium. In terms of production, solar power is highly developed in southern Italy, as in France, but much less so in the north. The main challenge remains connecting to the electricity grid, which is more complex in Italy than in France. On the other hand, energy storage is more advanced there! Each has its own strengths and challenges to overcome!

How can crowdfunding accelerate the energy transition in Italy?

Benoit: Crowdfunding offers a dynamic alternative to a financial landscape dominated by traditional players, often poorly suited to the needs of renewable energy project developers. In 2024, we received the Innovation Award, presented by the Italian Minister for Ecological Transition at the Rimini Exhibition, which attests to our impact. Some developers tell us that they wait months to find a competent banking partner: with Enerfip, we offer them a faster and more flexible solution!

How does Enerfip Italia position itself compared to other renewable energy financing players in the country?

Gabriele:Our ambition is to be an additional lever for companies engaged in the energy transition. Rather than competing with other financing players, we complement the existing offering. For example, we are happy to collaborate with banks by co-financing projects and helping project leaders raise part of the equity capital needed to build their infrastructure.

What are the flagship projects you would like to see developed through Enerfip Italia?

Gabriele:We want to support developers in financing large-scale projects, while also supporting smaller players building smaller-scale facilities. In the future, we strongly believe in the potential of Renewable Energy Communities, which combine energy transition and democratization of investment.

How does Enerfip support French investors who want to finance Italian projects?

Benoit:Based on our experience in Spain, we already know the main obstacles to investing abroad. Even though Italy is a new market with its own regulations, we are doing everything we can to simplify the experience for our investors. We also have a local team, with two bilingual people, to ensure a smooth connection between France and Italy.

What advice would you give to investors looking to position themselves in the Italian renewable energy market?

Benoit:It's an excellent opportunity to diversify your portfolio and support an economy that will accelerate its energy transition in the coming years. Italy is booming in this area, and crowdfunding has a key role to play in supporting this momentum.

How do you imagine Enerfip Italia in 5 years?

Gabriele:In 5 years, we are aiming for a solidly established model, offering a wide variety of investment opportunities. Our ambition is to concretely accelerate the growth of renewable energies in Italy, while guaranteeing investors attractive and secure investments.

Could Italy become a model for other countries to follow in terms of energy crowdfunding?

Gabriele:Italy perfectly illustrates the challenges of the internationalization of crowdfunding: a booming renewable energy market, but still hampered by a lack of capital available via local crowdfunding platforms. Despite a demanding regulatory framework, Enerfip provides a concrete solution to this problem by relying on a European vision of crowdfunding. Our ambition? To offer investors attractive and secure opportunities, while offering Italian developers innovative financing solutions to accelerate the energy transition.