Type Public Headquarters Genoa, Italy | Traded as BIT: ERG Revenue 944 million EUR (2015) | |
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Industry Petrochemical
Renewable energy Founded June 2, 1938 (1938-06-02) Key people Edoardo Garrone (Chairman)
Luca Bettonte(CEO) Products Refinery products
Electric power Stock price ERG (BIT) € 11.00 -0.31 (-2.74%)10 Mar, 5:36 PM GMT+1 - Disclaimer CEO Luca Bettonte (20 Apr 2012–) Subsidiaries ERG Mobile, TotalErg, Eolicamirabella S.r.l. | ||
ERG S.p.A. is a publicly listed Italian energy company, founded in 1938 and based in Genoa, Italy.
Contents
Profile
Following a period of profound transformation (sale of the ISAB refinery and of the ISAB Energy power station, the creation 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 recently purchased the Terni (527 MW) hydroelectric unit from EON Produzione.
As regards the geographic distribution of ERG Renew wind farms (93%-owned subsidiary), the MW installed are mainly in Italy (1,087), where other logistics centres of the subsidiary ERG Renew Operations & Maintenance are also located. ERG Renew is present with 252 MW in France, 168 MW in Germany, in Romania (70 MW) and in Bulgaria (54 MW). Over the course of 2015, wind farms in Poland became operational (approximately 80 MW).
History
ERG was founded by Edoardo Guida Garrone in 1938, founding a company for the refining of petroleum. In 1952 signs an agreement to refine the oil on behalf of BP.
During the 1960s and 1970s has started to build some oil refineries and pipelines in Italy, in particular a pipeline in Arquata Scrivia and an oil refinery in Priolo Gargallo (ISAB).
In the 1980s has acquired the petrol stations networks owned by Elf, Chevron and BP in Italy, through ERG Petroli.
Since 1997 the company is listed on the Italian Stock Exchange. In 1999 it opened gas, (petrol), stations network in Spain through ERG Petroleos, sold in 2008 to Saras S.p.A.
In 2008 it signed an agreement with Lukoil, sharing the 49% of oil refinery in Priolo Gargallo.
In 2009 it launched its own Mobile virtual network operator: ERG Mobile, becoming the first Italian oil company with its own telecommunications company.
In 2010 ERG Petroli and TotalErg Italia merge in TotalErg, starting operation on October 1, 2010.
Sponsorship
ERG has been the main sponsor of U.C. Sampdoria, a football club owned by the Garrone family (Riccardo Garrone was the President, with Edoardo as Vice, and Vittorio as Director), for more than 9 years.