Erg (company)

Last updated

Erg S.p.A.
Native name
Edoardo Raffinerie Garrone
Company type Public
BIT:  ERG
ISIN IT0001157020
Industry Renewable energy [1]
FoundedJune 2, 1938;86 years ago (1938-06-02) in Genoa, Italy
Founder Edoardo Garrone
Headquarters
Genoa
,
Italy
Key people
 Edoardo Garrone (Chairman)
[2] Paolo Luigi Merli (CEO) [3]
Products Electric power [1]
RevenueIncrease2.svg €741 million [4]  (2023)
Increase2.svg €219 million [4]  (2023)
Total assets Decrease2.svg €5,199 million [4]  (2023)
Total equity Increase2.svg €2,147 million [4]  (2023)
Number of employees
636 [4]  (2023)
Website www.erg.eu

Erg S.p.A. , acronym for Edoardo Raffinerie Garrone, is an Italian energy company, founded in 1938, and based in Genoa, Italy. [5]

Contents

History

Erg was founded by Edoardo Guida Garrone in 1938, founding a company for the refining of petroleum. [6] In 1952, Erg signs an agreement to refine the oil on behalf of BP.

During the 1960s and 1970s the company started to build some oil refineries and pipelines in Italy, particularly a pipeline in Arquata Scrivia [6] and an oil refinery in Priolo Gargallo (ISAB). [7]

In the 1980s Erg acquired the petrol stations networks owned by Elf, Chevron, and BP in Italy, through Erg Petroli. [6]

Since 1997 the company is listed on the Italian Stock Exchange. [5] In 1999 it opened gas, (petrol), stations network in Spain through Erg Petroleos, sold in 2008 to Saras S.p.A. [8]

In 2007 Erg started to operate in the French [9] and German [10] wind markets, acquiring wind farms also in Bulgaria, Romania, Polonia and United Kingdom. [11]

In 2008 it signed an agreement with Lukoil, sharing the 49% of oil refinery in Priolo Gargallo. [12] [13]

In 2009 it launched its own Mobile Virtual Network Operator: Erg Mobile, becoming the first Italian oil company with its own telecommunications company. [14]

On 1 October 2010, Total Italia and Erg Petroli merged to create TotalErg, a joint venture between Total (49%) and Erg (51%). [15]

In early 2011 Erg reduced its share in ISAB from 51% to 40%. [16] Two years later Erg completed the exit from the refining sector. [17] [18]

In the meantime (since 2010) Erg grew in the Italian wind power sector becoming the leading wind operator in Italy in 2013. [19] [11]

In 2015 Erg entered the hydroelectric sector, via acquisition of E.ON's Italian assets, with 527 MW of capacity. [20] [21]

In January 2018, Total and Erg completed the closing with Gruppo API regarding the sale of TotalErg, and Erg completed its industrial transformation process towards renewables. [11] In the same year, Erg entered the solar power business through the acquisition of 89 MW (30 photovoltaic plants) in Italy. [22]

Profile

Following a period of profound transformation (sale of the ISAB refinery and of the ISAB Energy power station, creation and sale of the TotalErg joint venture and the sale of the Erg Oil Sicilia network), [23] 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 in 2015 purchased the Terni (527 MW) hydroelectric unit from EON Produzione. Erg is also active in Italy in the generation of electricity from solar sources (140 MW). [24]

Erg is present with 359 MW in France, 272 MW in Germany, in Romania (70 MW) and in Bulgaria (54 MW). [25]

With regard to sustainability issues, in October 2022, Standard Ethics Aei upgraded Erg's sustainability rating to "E+" with a positive outlook on a scale of F to EEE within the SE European Utilities Index. [26] [27]

Erg Mobile

Erg Mobile Logo ERG Mobile.jpg
Erg Mobile

Erg Mobile was an Italian Mobile Virtual Network Operator owned by the oil company Erg, later TotalErg.

Operational since 15 April 2009, [28] [29] it was the result of a commercial agreement between Erg and Vodafone (the service, launched as ESP MVNO, in fact uses the GSM/GPRS/UMTS network of the British company).

The Erg Mobile service was available for subscription, from April 2010, throughout the entire Erg, then TotalErg, distribution network.

The area code used was 377-5.

The main feature of Erg Mobile was the ambivalent one of giving advantages on fuel to those who use Erg Mobile and on top-ups to those who get fuel at service stations.

On 10 January 2018, the sale of the TotalErg business unit relating to fuels to Gruppo API was completed and on 30 November 2018, [30] after months of uncertainties and disservices in the provision of new SIMs, the operator, via an SMS, notified its customers of the cessation of all activities starting from March 30, 2019. [31]

Sponsorship

Erg was the main sponsor of U.C. Sampdoria (until 2011), a football club that was owned by the Garrone family (Riccardo Garrone was the chairman, with Edoardo as the vice-chairman, and Vittorio as director), for more than 9 years. [32]

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References

  1. 1 2 "Reuters - Exclusive: Total, Erg prepare sale of Italian petrol-station network - sources". Reuters. 31 August 2016. Retrieved 31 July 2017.
  2. ↑ "Erg, petrolio di famiglia Garrone lascia ai figli" (in Italian). Retrieved 5 April 2023.
  3. ↑ "Erg, cambio al vertice in vista della "transizione" energetica: Merli nuovo amministratore delegato" (in Italian). Retrieved 5 April 2023.
  4. 1 2 3 4 5 "Annual Report 2023" . Retrieved 20 November 2024.
  5. 1 2 "Dal petrolio alle rinnovabili, Erg celebra 80 anni di storia" (in Italian). Retrieved 5 April 2023.
  6. 1 2 3 Rugafiori, Paride; Fasce, Ferdinando (2008). Dal petrolio all'energia, ERG 1938 - 2008, Storia e cultura d'impresa (in Italian). Editori Laterza. ISBN   9788842088097.
  7. ↑ "Finisce a Priolo l'era della Erg dei Garrone: ceduta a Enel la centrale elettrica" (in Italian). Retrieved 5 April 2023.
  8. ↑ "Distributori di benzina, Saras approda in Spagna" (in Italian). Retrieved 5 April 2023.
  9. ↑ "Si espande in Francia la strategia 100% rinnovabile di Erg". LIFEGATE (in Italian). 9 April 2018. Retrieved 22 October 2018.
  10. ↑ "Erg compra 11 parchi eolici in Francia e Germania". Milano Finanza (in Italian). 15 October 2015. Retrieved 23 October 2018.
  11. 1 2 3 "Garrone (Erg): dal petrolio al vento Come abbiamo "girato" l'azienda". Corriere della Sera (in Italian). 16 April 2018. Retrieved 22 October 2018.
  12. ↑ "Erg, accordo da 1,3 miliardi con Lukoil per le raffinerie" (in Italian). Retrieved 5 April 2023.
  13. ↑ "Erg, un miliardo e mezzo da Lukoil per il 49 per cento della raffineria Isab" (in Italian). Retrieved 5 April 2023.
  14. ↑ "Erg, dal petrolio alla telefonia mobile" (in Italian). Retrieved 5 April 2023.
  15. ↑ "TOTAL e ERG creano TotalErg, nuova joint-venture nel settore della Raffinazione e Marketing in Italia". ERG Site (in Italian). Retrieved 27 September 2014.
  16. ↑ "La Erg vende ai russi e incassa 400 milioni". La Repubblica (in Italian). 1 February 2012. Retrieved 22 October 2018.
  17. ↑ "ERG waves goodbye to refinery business with stake sale". Reuters. 9 October 2013. Retrieved 22 October 2018.
  18. ↑ "Erg, accordo da 1,3 miliardi con Lukoil per le raffinerie". Il Sole 24 Ore (in Italian). 24 June 2008. Retrieved 22 October 2018.
  19. ↑ "Erg chiude l'acquisto degli asset eolici Gdf Suez" (in Italian). Retrieved 5 April 2023.
  20. ↑ "C'è il closing per l'acquisizione di Eon: da Erg rinasce il Nucleo Idroelettrico di Terni". Umbria 24 (in Italian). 30 November 2015. Retrieved 22 October 2018.
  21. ↑ "Erg, futuro verde. Non siamo più petrolieri". La Stampa (in Italian). 23 May 2015. Retrieved 22 October 2018.
  22. ↑ "Rinnovabili, Erg entra nel solare rilevando il 100% di Forvei" (in Italian). Retrieved 5 April 2023.
  23. ↑ "Erg vende Erg Oil Sicilia per 30 mln" (in Italian). Retrieved 5 April 2023.
  24. ↑ "Il petrolio è un lontano ricordo: ora il gruppo è leader in Italia nella produzione di energia eolica" (in Italian). Retrieved 5 April 2023.
  25. ↑ "2019 ERG Annual Report" . Retrieved 12 August 2020.
  26. ↑ "Standard Ethics Corporate Rating" . Retrieved 5 April 2023.
  27. ↑ "ERG, Standard Ethics assegna outlook "Positivo"" (in Italian). Retrieved 5 April 2023.
  28. ↑ "Vodafone - ERG: nuovo operatore virtuale "ERG Mobile"". CellularItalia.
  29. ↑ "Erg Mobile, le tariffe e le promozioni". Mondo3.
  30. ↑ MarketScreener. "Total and ERG Sell Remaining Joint Venture Assets to Anonima Petroli Italiana | MarketScreener". www.marketscreener.com. Retrieved 29 July 2019.
  31. ↑ "Cessazione definitiva servizi ERG Mobile al 30/03/2019" . Retrieved 20 March 2019.
  32. ↑ "Gli arabi e Garrone comprano la Sampdoria" (in Italian). Retrieved 5 April 2023.
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