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Sparkasse launches solar energy company for self-supply, emissions reduction
As part of its energy transition to lower its carbon emissions, Italy’s Sparkasse Group has created Sparkasse Energy, which will develop solar parks. The Group was advised by Italian law firm CBA, with a team comprising Francesco Assegnati, Fabrizio Magrì, Federica Stefania Rota, Barbara Orlando and Andrea Motta.
As part of its energy transition to lower its carbon emissions, Italy’s Sparkasse Group has created Sparkasse Energy, which will develop solar parks.
The banking group’s new company will operate solar parks in a bid to offset the atmospheric emissions generated through the self-production of energy from renewable sources.
The new generation capacity using solar power will be equal to almost double the annual electricity consumption of the banking group's properties, which total three headquarter offices and 170 branches.
The new operation is under the management of Ferruccio Ravelli, director of Sparkasse Energy.
Sparkasse Group was advised on the creation of the new company by Italian law firm CBA, with a team comprising Francesco Assegnati, Fabrizio Magrì, Federica Stefania Rota, Barbara Orlando and Andrea Motta.
The law firm’s assistance consisted of navigating the complex legal and fiscal regulatory frameworks.
"The CBA team has long been active in the field of investments in the renewable energy sector, structured for institutional operators, having, since 2011, structured the first Investment funds in the sector and contributed to the completion of numerous transactions,” Francesco Assegnati of CBA said.
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