Italy · Europe
An independent advisory and investment company, active in renewable energy, energy transition and sustainability — combining financial expertise with direct operational experience as investor and asset owner.
Who we are
Enexon Sviluppo is an Italian advisory and investment company, established in 2008 and active across Italy and Europe in the renewable energy, energy transition and sustainability sectors.
The company works alongside financial investors, fund managers and developers — providing strategic advisory, M&A support, governance oversight and, where appropriate, direct co-investment. Its perspective is grounded in first-hand experience as an investor and operator: Enexon holds equity positions in a portfolio of operating photovoltaic assets and has co-invested in energy transition initiatives alongside leading institutional partners.
Enexon operates as a focused boutique, working selectively on mandates where its specific expertise adds measurable value — from early-stage opportunity assessment to board-level governance and exit.
What we do
We support investors, developers and industrial groups from opportunity origination through to exit — combining strategic rigour with the sector fluency that only comes from having done it ourselves.
Deal origination, transaction structuring, due diligence and equity/debt placement for renewable energy and energy transition assets across Italy and Europe.
Board-level oversight and governance support for financial investors managing energy assets. Independent perspective bridging capital, industrial partners and operational management through the full investment lifecycle.
Early-stage development support, feasibility assessment, permitting strategy and stakeholder engagement for renewable energy and sustainability projects.
Strategic planning, portfolio development, international expansion and joint venture structuring for companies and investors active in the energy transition.
Equity and debt fundraising support, investor identification and placement advisory for energy projects and platforms at various stages of development.
Exit strategy definition, asset preparation and sale process management for operating renewable energy assets — drawing on direct experience as both buyer and seller in the Italian secondary market.
Where appropriate, Enexon Sviluppo is open to co-investing alongside partners in the initiatives it advises on.
Direct investments
Enexon holds direct equity positions in operating assets, reflecting its commitment to investing alongside its advisory work and maintaining hands-on operational experience.
Enexon holds direct equity positions in a portfolio of operating photovoltaic plants acquired from the secondary market, with an Independent Power Producer (IPP) model focused on long-term ownership and value creation.
All plants are operational and connected to the Italian national grid, with O&M and monitoring managed through established technical partnerships.
| Calamandrana (AT) | 1.0 MWp · Rooftop |
| Pomezia (RM) | 1.0 MWp · Rooftop |
| Collepasso (LE) | 2.5 MWp · 3 plants |
| Ossona (MI) | 1.6 MWp · Rooftop |
| Total | ~6.1 MWp in operation |
Enexon Sviluppo holds a 50% stake in Enexon Ventures Ltd, a Malta-registered investment and advisory company active in energy transition and sustainability across North Africa and internationally.
Enexon Ventures' principal operating asset is Glace Polaire Maroc, a Moroccan dry ice producer serving the food cold chain, fisheries, pharmaceuticals and industrial blasting sectors.
Visit enexon.com →Advisory work
A selection of mandates illustrating the type and scale of engagements we undertake.
From 2022, Enexon Sviluppo supported Antin Infrastructure Partners, Michelin and Scandinavian Enviro Systems in designing and launching what became the world's first large-scale end-of-life tyre recycling platform. Enexon's contribution covered the full pre-incorporation phase: technology selection, European growth strategy, target market identification, engagement with feedstock providers and set-up of the founding management team, through to company incorporation in March 2023 and the Final Investment Decision for the first commercial plant in Uddevalla, Sweden — representing approximately €90 million in equity.
Stefano Madeddu served as CEO of Infiniteria Europe from February 2024 to December 2025, overseeing operations through the construction and start-up phase of the Uddevalla plant.
Enexon Sviluppo holds an equity participation in the management company of the Infiniteria group, reflecting the firm's commitment to co-investing alongside partners in the initiatives it advises on.
Enexon Sviluppo led the development of a portfolio of 40 bio-methane projects across Italy, each structured in a dedicated SPV and funded by a private equity investor. Once fully permitted, the SPVs were sold to institutional investors including Verdalia Bioenergy (Goldman Sachs). The mandate covered project governance, team management and investor relations through the development and sale process.
Enexon Sviluppo provides senior advisory services to Equiter SGR, an independent infrastructure fund manager focused on mid-market infrastructure investments, in the renewable energy and energy transition sector. The mandate covers opportunity assessment, transaction support and sector expertise for investments in the Italian and European renewable energy market.
The team
Enexon Sviluppo is led by its founder, supported by senior advisors engaged on a project basis.
International executive and board-level advisor active in renewable energy, circular economy and sustainability — combining investment, strategic advisory and NED governance roles across Italy and Europe. Engineering degree from Politecnico di Milano and MBA from INSEAD. Fluent in Italian, English and French.
After 15 years in senior management roles in ICT corporations — including Olivetti and IBM — Stefano entered the renewable energy sector in 2004, building expertise across the full investment lifecycle. Previous roles include Head of Solar PV Europe at Babcock & Brown, Founding Partner at Hideal Partners, CEO of TOPS Energy, CEO of Greenteam Srl and CEO of Infiniteria Europe. INSEAD Learning Coach. Senior Advisor to Equiter SGR since 2016. Direct investor in operating photovoltaic assets in Italy.
Senior finance professional with over 15 years at Deutsche Bank AG, where he was Co-Head of the European Infrastructure and Energy team within the Structured Finance division, covering Italy, France, Benelux, Turkey and Eastern Europe. He led numerous financings for renewable energy plants and PPP concessions, overseeing more than €300 million in direct lending for photovoltaic developments in Italy. BSc from Università Commerciale Luigi Bocconi, MBA from INSEAD. Fluent in Italian, French and English.
Senior Advisor at Enexon since 2017. Senior Consultant to Kommunalkredit Austria AG for energy and infrastructure financing in Italy. Adjunct Professor at Università Cattolica del Sacro Cuore since 2024. Previously at Bankers Trust International (London) and EMCOR Eurocurrency Management Corporation (New York).
Get in touch
We engage selectively with mandates where our specific experience adds measurable value. Initial enquiries are welcome by email.