EntsorgaFin S.p.A. signs with Gruppo Iren the contract for the preliminary sale of Territorio e Risorse S.r.l.

23/07/2019

EntsorgaFin S.p.A. signs with Gruppo Iren the contract for the preliminary sale of Territorio e Risorse S.r.l. a fully owned subsidiary, developer and operator of an organic waste processing facility in Santhià (VC - Italy).

On July 23rd 2019, EntsorgaFin S.p.A has signed with Gruppo Iren a contract for the preliminary sale of Territorio e Risorse S.r.l. The company has developed and manages a composting and anaerobic digestion plant in the Santhià (Italy) processing up to 36.000 tons per year of source separated residential food waste (26,000 tpa) and  green waste (10,000 tpa). Territorio e Risorse is currently permitted to expand the current plant capacity to 50,000 tons per year, of which 40,000 tpa of source separated residential food waste and 10,000 tpa of green waste.

The agreed value for the transaction is approximately EUR 6.5 Mil, while the future plant expansion will require an additional investment of EUR 10 Mil, allowing the plant to achieve a production of 4.5 million cubic meters per year of Renewable Natural Gas (RNG). The plant expansion, expected to be completed in the fall of 2020, will be supported by the Entsorga Group on an Engineering, Procurement and Construction (EPC) basis, and will leverage on Entsorga’s proprietary technologies already successfully implemented in Italy and abroad.

Pietro Cella Mazzariol, C.E.O. EntsorgaFin S.p.A.

“For the Entsorga Group this contract represents a triple opportunity: first a new cooperation with Iren, the multi-utility company leader in Italy, secondly we can monetize an investment initiated in 2009, freeing up resources for additional development in our core business, third and more importantly, we will have the opportunity to build the most modern, automated and innovative plant for residual food waste that will  become the state of the art reference plant for the international markets.”

 

About Iren

Iren is one of the largest and most dynamic multiutility companies on the Italian scene and operates in the sectors of electricity, thermal energy for district heating and gas, and in the management of integrated water services, environmental services and technological services.

The Group serves a multiregional catchment area, has 7.042 employees, a portfolio of around 1.9 million customers in the energy sector and about 2.8 million inhabitants served in the integrated water and 2,3 million in the waste cycles

It is the first operator in Italy in the district heating sector for the volume heated, third in the water services sector for the number of cubic meters managed and in the environmental services sector for the quantity of waste treated, fifth in the gas sector for the amount of gas sold to end customers and fifth in the electricity sector for the amount of electricity sold. Iren is an eco-friendly electricity producer for more than 87% of its production.

The company’s registered office is in Reggio Emilia and it has operational offices in Genoa, Turin, Parma, Piacenza, Reggio Emilia, La Spezia and Vercelli.