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The CVA Group was founded in 2001 following the acquisition of Enel’s entire hydroelectric structure in the Aosta Valley region and to supplement some of the plants it already owned. Today, it is one of Italy’s leading energy service providers, active across the entire supply chain from production to sales and distribution. The company’s core business consists of the production of 100% renewable electricity, making CVA one of the leading hydroelectric power producers in Italy.

The Group operates through four subsidiaries and two associated companies, active across the entire energy value chain: from production to distribution, sales and energy efficiency. Each company in the Group has a specific mission and objectives in the electricity sector, which aim to create business opportunities while respecting the shared values of sustainability, innovation and safety.

The Group ended 2022 with turnover of EUR 1.7 billion and an EBITDA of EUR 295.3 million, an increase of 53% compared to 2021.


In December 2022 CVA acquired 100% of SR Investimenti S.r.l., which owns operating photovoltaic plants of 42 MW, authorised projects of 194 MW and projects under development of 846 MW, with a further 1,200 MW for future projects.

In addition, the Group acquired a 3% stake in Bonifiche Ferraresi S.p.A. Società Agricola, Italy’s largest agricultural company by Utilised Agricultural Area (UAA), controlled by BF S.p.A., listed on the Milan stock exchange.

These acquisitions consolidate CVA’s position as a leading renewable energy operator in Italy, combining its historical presence in hydropower with significant growth in the photovoltaic sector, in advance of the timeline of its strategic plan to 2027.


hydropower plants


wind farms


photovoltaic modules


installed capacity


On 9 March 2023, at the meeting “Utilities: global challenges, local answers”, the CVA Group was awarded the “Top Utility Performance Operative” prize by Althesys, an independent professional company specialising in strategic consulting and knowledge development.

On 24 March 2023, on the occasion of the 47th Industria Felix Prize event, the fifth edition of “Liguria, Piedmont and Valle d’Aosta Compete”, CVA was awarded the Felix Prize as “Best company in the energy and utility sectors for management performance and financial reliability“.

On 5 April 2023, CVA CEO Giuseppe Argirò was awarded the “Manager Utilities Andrea Gilardoni 2022prize by Agici Finanza d’Impresa in Milan.

On 17 April 2023, during the second edition of the Sustainability Award organised by Corriere della Sera in collaboration with Next Nuova Economia, CVA was awarded a special mention for “Best relationship with the community“.

Enrico De Girolamo, CVA General Manager commented:

“The synergy between the creation of economic value and the distribution of benefits to the community is a fundamental principle of our corporate sustainability.