Aare-Tessin Ltd. for Electricity (Atel) has increased its stake in energy supplier A2A S.p.A. based in Milan and Brescia to 5 percent. With the election of Antonio M. Taormina to the Supervisory Board of A2A, Atel has also ensured that its interests are protected in the key Italian market.
Since 4 March 2008, Atel has held a 5 percent financial interest in A2A S.p.A. A2A is one of Italy's leading local energy suppliers and was created following the merger of AEM Milan and ASM Brescia. Atel has been a shareholder in the Milan Public Utility Company (AEM) since 1998. When AEM merged with the municipal utilities of Brescia to create A2A, the transaction resulted in a dilution of Atel's holding. Atel has now increased its stake once more to 5 percent.
A2A shares are listed on the Milan stock exchange. Atel's higher financial interest in A2A reinforces the relationship between the two energy companies and underscores the strategic importance of the Italian market for Atel.
On 22 February 2008 the Annual General Meeting of A2A elected Antonio M. Taormina, member of the Atel Executive Board, to the Supervisory Board of A2A. This appointment additionally underpins the position of the Atel Group in Italy. Antonio M. Taormina commented: "By raising our stake, Atel is underscoring the importance of the Italian market and our partnership with A2A. This has enabled us to transfer the proven model of mutual participation, with reciprocal representation on the boards of AEM Milan and Atel, to the new A2A constellation."
Atel in the Italian energy market
Italy is Atel's largest market, and in 2007 accounted for more than one fifth of net revenue generated by the Energy segment. The foundation stone for success in Italy was laid in 2002 with Atel's acquisition of an interest in Edipower, allowing Atel to gain a foothold in Italy as a local electricity producer. Atel founded its own sales company in Milan back in 1999, and Atel Energia S.p.A. is now one of the main players on the Italian electricity market. In 2006 Atel entered the SME market through its subsidiary, Energit.
Atel's value chain in Italy ranges from local production to an extensive distribution network built on close partnerships with resellers and industrial partners, and active participation in Italian energy trading. Atel now commands a 7 percent share of the Italian market.
Atel operates first-class production facilities in Italy: It has a 20 percent share of the six thermal power plants and three hydroelectric power stations operated by Edipower, with an installed capacity of more than 7500 MW. In addition, Atel operates two gas-fired combined-cycle power plants in Northern Italy in conjunction with two chemical companies, as well as two small hydroelectric power stations in Piedmont. At the end of 2007 Atel's two wind farms in Sicily, with a collective installed capacity of 101 MW, began generating electricity. Atel has also started preparations ahead of the construction of a new gas-fired combined-cycle power plant in San Severo, Southern Italy.
Since 4 March 2008, Atel has held a 5 percent financial interest in A2A S.p.A. A2A is one of Italy's leading local energy suppliers and was created following the merger of AEM Milan and ASM Brescia. Atel has been a shareholder in the Milan Public Utility Company (AEM) since 1998. When AEM merged with the municipal utilities of Brescia to create A2A, the transaction resulted in a dilution of Atel's holding. Atel has now increased its stake once more to 5 percent.
A2A shares are listed on the Milan stock exchange. Atel's higher financial interest in A2A reinforces the relationship between the two energy companies and underscores the strategic importance of the Italian market for Atel.
On 22 February 2008 the Annual General Meeting of A2A elected Antonio M. Taormina, member of the Atel Executive Board, to the Supervisory Board of A2A. This appointment additionally underpins the position of the Atel Group in Italy. Antonio M. Taormina commented: "By raising our stake, Atel is underscoring the importance of the Italian market and our partnership with A2A. This has enabled us to transfer the proven model of mutual participation, with reciprocal representation on the boards of AEM Milan and Atel, to the new A2A constellation."
Atel in the Italian energy market
Italy is Atel's largest market, and in 2007 accounted for more than one fifth of net revenue generated by the Energy segment. The foundation stone for success in Italy was laid in 2002 with Atel's acquisition of an interest in Edipower, allowing Atel to gain a foothold in Italy as a local electricity producer. Atel founded its own sales company in Milan back in 1999, and Atel Energia S.p.A. is now one of the main players on the Italian electricity market. In 2006 Atel entered the SME market through its subsidiary, Energit.
Atel's value chain in Italy ranges from local production to an extensive distribution network built on close partnerships with resellers and industrial partners, and active participation in Italian energy trading. Atel now commands a 7 percent share of the Italian market.
Atel operates first-class production facilities in Italy: It has a 20 percent share of the six thermal power plants and three hydroelectric power stations operated by Edipower, with an installed capacity of more than 7500 MW. In addition, Atel operates two gas-fired combined-cycle power plants in Northern Italy in conjunction with two chemical companies, as well as two small hydroelectric power stations in Piedmont. At the end of 2007 Atel's two wind farms in Sicily, with a collective installed capacity of 101 MW, began generating electricity. Atel has also started preparations ahead of the construction of a new gas-fired combined-cycle power plant in San Severo, Southern Italy.
