Aviva Investors tops-up investment in Innovo Renewables development platform

14 January 2025

(London) – Aviva Investors, the global asset management business of Aviva plc, announces it has completed an additional investment into Innovo Renewables (‘Innovo’), an Italian-based company which develops, constructs and manages renewable energy projects across Italy, the UK and Spain. 

The new investment, totalling €30 million, sees Aviva Investors increase its stake in Innovo to 45 per cent, having originally acquired 35 per cent of the Innovo platform in 2023.

Founded in 2022, Innovo currently manages a project pipeline representing 8.6 GW of solar, 2.2 GW of battery storage and 600 MW of wind power.

The new round of investment is expected to accelerate Innovo’s development plan, providing it with the flexibility to pursue strategic ready-to-build M&A opportunities across Europe and supporting the delivery of future projects. The funding is also expected be used for Innovo to bring additional capabilities in-house, as Aviva Investors seeks to support the company’s long-term growth ambition to establish itself as a leading European independent power producer (‘IPP’).

Angenika Kunne, Head of Infrastructure Equity at Aviva Investors, said:

“We are incredibly pleased to extend our relationship with Innovo, a company which has delivered strong performance and impressive growth since our initial investment, and to show our continued commitment to both it and the European renewables market. By adding in-house construction capabilities and a collection of ready-to-build assets to our portfolio, we believe we can further diversify risk and returns for our investors. This should all come together to position us well for delivering long-term robust investment outcomes to investors and, ultimately, individual savers.”

Rodolfo Bigolin, CEO at Innovo Renewables commented:

“I am extremely proud that Aviva Investors has strengthened its commitment and doubled its investment in Innovo Renewables in just 18 months. After a 2024 of strong growth, which brought us to a team of over 70 resources, we start 2025 with an important sign of confidence to strengthen our development path to being a leading Independent Power Producer (IPP)”.

For more information contact:

Steve Ainger

Head of Media Relations

James Morgan

Media Relations Manager

Giovanni Vantaggi

Innovo Renewables, Barabino & Partners

Letizia Giulia Castiello

Innovo Renewables, Barabino & Partners

Important information

About Aviva Investors

Aviva Investors is the global asset management business of Aviva plc. The business delivers investment management solutions, services and client-driven performance to clients worldwide. Aviva Investors operates in 14 countries in Asia Pacific, Europe, North America and the United Kingdom with £234 billion in assets under management as at 30 June 2024.

Innovo Renewables

Founded by Rodolfo Bigolin in early 2022, is a company dedicated to the development, construction and management of projects for the production of electricity from renewable sources in Italy, Spain and the UK. With a pipeline of 8.6 GW of photovoltaic projects, 2.2 GW of energy storage systems and 600 MW of wind power in various stages of development, Innovo Renewables is one of the companies with the highest growth rate in its sector.

Important information

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Except where stated as otherwise, the source of all information is Aviva Investors Global Services Limited (“Aviva Investors”). Unless stated otherwise any views, opinions expressed are those of Aviva Investors. They should not be viewed as indicating any guarantee of return from an investment managed by Aviva Investors nor as advice of any nature.

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