Resalta launches joint venture with Free Energia to enter the Italian market

Free Resalta will join the strengths and experience of both Resalta and Free Energia, to continue developing and realizing ESCO projects in the different markets the companies are present in. The joint venture company was formed on January 24th, with Marino Cucca, President of Free Energia, and Luka Komazec, CEO of Resalta signing the notarial deeds. Free Resalta already has a significant project pipeline in place and will begin work immediately.

Jure Zadravec, co-director of the joint venture company, announced that:

"Thanks to this joint venture, new opportunities, new solutions and new value propositions for our customers will be created. We are thrilled to be starting this path together and we hope that the already positive perception of the Free Group will be strengthened, even abroad, in the markets in which we are going to try our hand", stated Giorgio Saraceno, co-director of Free Resalta.

Free Energia president Marino Cucca and Free Energia Savings CEO Pasquale Ionta, who together with Resalta CEO Komazec inspired and created the joint venture, highlighted the fact that Free Resalta presents clear and immediate synergies for the two groups, strategically and systematically expanding their respective geographies of operation and functional execution capabilities. Resalta will gain qualified access to the important Italian market and Free Energy will access Eastern European markets, including countries with high growth in demand for advanced energy saving systems and services such as the Balkan countries.

For Resalta, the joint venture marks its entry onto the Italian market, which is the eighth country Resalta will be operating in, following its recently launched projects in Macedonia and the Czech Republic. The joint venture is in line with its plans for international expansion and its ambition of bringing energy efficiency to new clients, both private and public, in order to reshape the region’s energy landscape.

Free Energia is the main company in the Italian Free Group. It operates in the midstream and downstream energy markets in Italy and abroad, acting as an operator and investor in energy saving and energy efficiency services and systems with a high technological content and as a provider of energy management services to end customers, as well as a participant in the organised trading platforms of the electricity and natural gas markets.