Esapro acquires 70% majority stake in REN Electron from founder Luca Miotti
Type: Acquisition · Technology: Solar · Country: Italy · Announced: 2026-06-11
Esapro acquired a 70% majority stake in REN Electron from its founder, Luca Miotti, who sold the share through his holding company. Miotti will continue to lead REN Electron, an EPC operator specializing in the construction and development of ground-mounted and rooftop photovoltaic plants, primarily in Northwest Italy and Sicily. This acquisition allows Esapro, controlled by Algebris Investments through its Algebris Green Transition Fund, to expand its presence in strategic geographical areas, integrate complementary development expertise, and increase its execution capacity for large projects. The acquisition was part of a broader increase in Esapro's bank financing, structured with Intesa Sanpaolo and Banco BPM, aimed at refinancing REN Electron's debt and strengthening the group's overall financial capacity. With REN Electron's inclusion, Esapro's 2025 revenue exceeded €100 million, with a 2026 backlog of €100 million and an O&M portfolio reaching 620 MW of photovoltaic and 330 MW of security systems.
Counterparties
- Advant NCTM (Legal Buy)
- Esapro (Buyer)
- Epyon (Advisor Buy)
- Algebris Investments (Parent Company)
- REN Electron (Seller)
- Banco BPM (Lender)
- Studio Deiure (Advisor Buy)
- Algebris Green Transition Fund (Parent Company)
- Luca Miotti (Seller)
- LCA Studio Legale (Legal Sell)
- Chiomenti (Legal Buy)
- Intesa Sanpaolo (Lender)
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