Elena Distaso
Phone number: +39 02 62228522
Mobile phone number: +39 338 2500609
Email: elena.distaso@edison.it
Edison completes the sale of Edison Stoccaggio to Snam and accelerates on energy transition
The Edison Group monetises the value of a strategic asset for the Country in order to pursue its strategic plan to 2030 and focus its investments on Renewables and Customers and Services segments.
Milan, March 3, 2025 – Edison announces the closing of the sale of 100% of Edison Stoccaggio to the Snam Group, which will support its long-term development. The transaction allows Edison to cash in 565 million euros, which will be allocated to the energy transition and the development of its customer base. The agreement also provides for an earn-out to be paid by Snam to Edison in the case of a positive outcome of the ongoing administrative dispute regarding revenues recognized for activities at the San Potito and Cotignola site in previous years.
«The monetization of this strategic asset for the Country is in line with our energy transition path and will provide additional resources which will be used to accelerate the development of renewables, and for balancing our industrial profile by investing in the downstream segment. It is a further, very concrete step toward our strategic goal of bringing the percentage of renewables, flexibility, customers and services to 70% of the Group’s EBITDA by 2030» commented Nicola Monti, CEO of Edison.
Edison Stoccaggio owns three natural gas storage facilities: Cellino (TE), Collalto (TV) and San Potito e Cotignola (RA) for a total capacity of about 1 billion cubic meters per year. Following the transaction, Edison Stoccaggio’s workforce will be absorbed by the Snam Group, which has committed to maintaining employment levels and the overall economic and contractual conditions currently in place for the employees involved in the acquisition, as well as to provide long-term industrial and financial continuity to a business at the core SNAM’s activity.
Over the period 2023-2030, Edison’s strategic plan envisages investments of around 10 billion euros, 85% of which aligned with the United Nations Sustainable Development Goals (SDGs). The goal is to sustainably grow Edison’s EBITDA starting from a level of 1 billion euros in 2022 through a significant change in the industrial portfolio, which will bring the percentage of renewables, flexibility and downstream activities to 70% of EBITDA by 2030, compared with the 2020-2022 average of 35%. Consistently with these objectives, in 2024, Edison’s EBITDA stood at 1.7 billion euros, with green production and the Customers activities and Services segment accounting for 55%.
Public disclosure obligations pursuant to Consob resolution no. 11971 of May 14, 1999, as amended.
«The monetization of this strategic asset for the Country is in line with our energy transition path and will provide additional resources which will be used to accelerate the development of renewables, and for balancing our industrial profile by investing in the downstream segment. It is a further, very concrete step toward our strategic goal of bringing the percentage of renewables, flexibility, customers and services to 70% of the Group’s EBITDA by 2030» commented Nicola Monti, CEO of Edison.
Edison Stoccaggio owns three natural gas storage facilities: Cellino (TE), Collalto (TV) and San Potito e Cotignola (RA) for a total capacity of about 1 billion cubic meters per year. Following the transaction, Edison Stoccaggio’s workforce will be absorbed by the Snam Group, which has committed to maintaining employment levels and the overall economic and contractual conditions currently in place for the employees involved in the acquisition, as well as to provide long-term industrial and financial continuity to a business at the core SNAM’s activity.
Over the period 2023-2030, Edison’s strategic plan envisages investments of around 10 billion euros, 85% of which aligned with the United Nations Sustainable Development Goals (SDGs). The goal is to sustainably grow Edison’s EBITDA starting from a level of 1 billion euros in 2022 through a significant change in the industrial portfolio, which will bring the percentage of renewables, flexibility and downstream activities to 70% of EBITDA by 2030, compared with the 2020-2022 average of 35%. Consistently with these objectives, in 2024, Edison’s EBITDA stood at 1.7 billion euros, with green production and the Customers activities and Services segment accounting for 55%.
Public disclosure obligations pursuant to Consob resolution no. 11971 of May 14, 1999, as amended.
Press Office Contacts
Lorenzo Matucci
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Mobile phone number: +39 337 1500332
Email: lorenzo.matucci@edison.it
Davide Calvi
Phone number: +39 02 62227834
Mobile phone number: +39 337 1108265
Email: davide.calvi@edison.it
Marta Mazzacano
Phone number: +39 02 62227049
Mobile phone number: +39 335 7749819
Email: marta.mazzacano1@edison.it