Edoardo Raffinerie Garrone

ERG S.p.A. is a publicly listed Italian energy company, founded in 1938, and based in Genoa, Italy.

ERG S.p.A.
TypePublic
BIT: ERG
IndustryRenewable energy[1]
FoundedJune 2, 1938 (1938-06-02)
Headquarters,
Key people
Edoardo Garrone (Chairman)
Luca Bettonte(CEO)
ProductsElectric power[1]
Revenue €1,022 billion[2] (2019)
€105 million[2] (2019)
Total assets €3,2 billion[2] (2019)
Total equity €1,787 billion[2] (2019)
Number of employees
754[2] (2019)
Websitewww.erg.eu

Profile

Following a period of profound transformation (sale of the ISAB refinery and of the ISAB Energy power station, creation and sale of the TotalErg joint venture and the sale of the ERG Oil Sicilia network), ERG Group is now the leading operator in wind energy in Italy and is currently among the top ten in Europe (onshore). It also owns a combined cycle power plant (ERG Power, 480 MW) in Priolo Gargallo in Sicily and in 2015 purchased the Terni (527 MW) hydroelectric unit from EON Produzione. ERG is also active in Italy in the generation of electricity from solar sources (140 MW).

As regards the geographic distribution of wind farms, the MW installed are mainly in Italy (1,093), where other ERG's Operations & Maintenance logistics centres are also located. ERG is present with 359 MW in France, 272 MW in Germany, in Romania (70 MW) and in Bulgaria (54 MW).[3] Over the course of 2015, wind farms in Poland became operational (approximately 80 MW).

History

ERG was founded by Edoardo Guida Garrone in 1938,[4] founding a company for the refining of petroleum. In 1952, ERG signs an agreement to refine the oil on behalf of BP.[5]

During the 1960s and 1970s the company started to build some oil refineries and pipelines in Italy, particularly a pipeline in Arquata Scrivia[6] and an oil refinery in Priolo Gargallo (ISAB).[4]

In the 1980s ERG acquired the petrol stations networks owned by Elf, Chevron, and BP in Italy, through ERG Petroli.[4]

Since 1997 the company is listed on the Italian Stock Exchange.[7] In 1999 it opened gas, (petrol), stations network in Spain through ERG Petroleos,[6] sold in 2008 to Saras S.p.A.[8]

In 2007 ERG started to operate in the French[9] and German[10] wind markets, acquiring wind farms also in Bulgaria, Romania, Polonia and United Kingdom.[11]

In 2008 it signed an agreement with Lukoil, sharing the 49% of oil refinery in Priolo Gargallo.[12][13]

In 2009 it launched its own Mobile virtual network operator: ERG Mobile, becoming the first Italian oil company with its own telecommunications company.[14]

In 2010 ERG Petroli and TotalErg Italia merged to become TotalErg and started operation on October 1, 2010.[15][16]

In early 2011 ERG reduced its share in ISAB from 51% to 40%.[17] Two years later ERG completed the exit from the refining sector.[18][19]

In the meantime (since 2010) ERG grew in the Italian wind power sector becoming the leading wind operator in Italy in 2013.[11][20]

In 2015 ERG entered the hydroelectric sector, via acquisition of E.On's Italian assets, with 527 MW of capacity.[21][22] The power plants are located in the Italian regions of Umbria, Marche and Lazio.

In January 2018, ERG completed the closing with the Api Group regarding the sale of its 51% shareholding in TotalErg S.p.A., completing its industrial transformation process towards renewables.[11] In the same year, ERG entered the solar power business[23] through the acquisition of 89 MW (30 photovoltaic plants) in Italy.

Sponsorship

ERG was the main sponsor of U.C. Sampdoria (until 2011),[24] a football club that was owned by the Garrone family (Riccardo Garrone was the chairman, with Edoardo as the vice-chairman, and Vittorio as director), for more than 9 years.

References

  1. "Reuters - Exclusive: Total, Erg prepare sale of Italian petrol-station network - sources". Reuters. 2016-08-31. Retrieved 31 July 2017.
  2. "2019 ERG Annual Report". Retrieved 12 August 2020.
  3. "2019 ERG Annual Report". Retrieved 12 August 2020.
  4. "Archived copy". Archived from the original on 2007-08-14. Retrieved 2012-05-09.CS1 maint: archived copy as title (link)
  5. "Archived copy". Archived from the original on 2007-08-19. Retrieved 2012-05-09.CS1 maint: archived copy as title (link)
  6. "Archived copy". Archived from the original on 2007-08-19. Retrieved 2012-05-09.CS1 maint: archived copy as title (link)
  7. "Si espande in Francia la strategia 100% rinnovabile di Erg". LIFEGATE (in Italian). 9 April 2018. Retrieved 22 October 2018.
  8. "Erg compra 11 parchi eolici in Francia e Germania". Il Sole 24 Ore (in Italian). 15 October 2015. Retrieved 23 October 2018.
  9. "Garrone (Erg): dal petrolio al vento Come abbiamo "girato" l'azienda". Corriere della Sera (in Italian). 16 April 2018. Retrieved 22 October 2018.
  10. "Archived copy". Archived from the original on 2011-07-26. Retrieved 2012-05-09.CS1 maint: archived copy as title (link)
  11. ,
  12. Jewkes, Ian Simpson, Stephen (2010-01-28). "ERG, Total JV to create Italy's 3rd petrol retailer". Reuters. Retrieved 2021-01-19.
  13. "TotalErg Joint Venture - Financial Statements - ERG". bilanciointerattivo.erg.it. Retrieved 2021-01-19.
  14. "La Erg vende ai russi e incassa 400 milioni". La Repubblica (in Italian). 1 February 2012. Retrieved 22 October 2018.
  15. "ERG waves goodbye to refinery business with stake sale". Reuters. 9 October 2013. Retrieved 22 October 2018.
  16. "Erg, accordo da 1,3 miliardi con Lukoil per le raffinerie". Il Sole 24 Ore (in Italian). 24 June 2008. Retrieved 22 October 2018.
  17. "Erg: "Non siamo più petrolieri ma leader in Italia nell'eolico"". Il Sole 24 Ore (in Italian). 23 May 2016. Retrieved 22 October 2018.
  18. "C'è il closing per l'acquisizione di Eon: da Erg rinasce il Nucleo Idroelettrico di Terni". Umbria 24 (in Italian). 30 November 2015. Retrieved 22 October 2018.
  19. "Erg, futuro verde. Non siamo più petrolieri". La Stampa (in Italian). 23 May 2015. Retrieved 22 October 2018.
  20. "L'addio di Erg al petrolio, Garrone: "Ora il solare"". La Repubblica (in Italian). 4 November 2017. Retrieved 22 October 2018.
  21. "U.C. Sampdoria e Gamenet, insieme per crescere" (Press release) (in Italian). U.C. Sampdoria. 4 July 2011. Retrieved 31 July 2017.
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