I Squared Buys 95% of Absolute Energy

I Squared Buys 95% of Absolute Energy

I Squared Capital, an established global infrastructure investment manager, will acquire as much as 95 percent of Absolute Energy, a renewables developer. This move will accelerate Italy’s shift toward renewable energy sources. Aligning with I Squared Capital’s mission of global energy transition.

Absolute Energy has over 3.0 gigawatts of renewable energy projects spread across Italy. These include solar photovoltaic, wind, and energy storage initiatives. I Squared Capital will invest €400 million to accelerate their growth and implementation. Furthermore, Italy reduces reliance on imported fossil fuels by diversifying its energy sources and expanding renewable energy capacity. This safeguards the country against supply chain vulnerabilities, such as price fluctuations.

“This significant capital infusion from I Squared comes at a pivotal moment for Absolute Energy,”said Alberto Pisanti, CEO of Absolute Energy. “It will also enable us to expand in other areas such as storage, grid stability and clean fuels and to actively support Italy’s historic commitments toward the energy transition.”

This strategic acquisition will also substantially contribute to the Italian Government’s pledge to reach Net Zero emissions. The country aims to generate two-thirds of its electricity from renewables by 2030, aligning with the ambitious targets set by the European Union in the renewable energy sector.

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