Ansaldo Energia

Ansaldo Energia S.p.A.

Company type	Private company
Industry	Power Generation, Government Services
Founded	1853
Headquarters	Genoa , Italy
Key people	Lorenza Franca Franzino (President), Fabrizio Fabbri (CEO)
Owner	CDP Equity (87.6%), Shanghai Electric Group (12.4%)
Number of employees	4500 (2020)

Overview

Ansaldo Energia S.p.A. is an Italian joint-stock enterprise specializing in the energy industry and ranks among the foremost global manufacturers of power generation equipment. Initially functioning as a segment of the Ansaldo conglomerate, it subsequently became associated with Leonardo (previously known as Leonardo-Finmeccanica). In late 2013, Leonardo opted to divest a portion of its holdings in Ansaldo Energia to the Italian Strategic Fund, with the deal finalizing by the close of 2017.

By 2024, ownership of the company’s share capital is primarily under CDP Equity—the Italian state investment entity—holding 87.6%, while Shanghai Electric Group from China maintains a 12.4% stake.

Corporate Details

• Type: Private company
• Founded: 1853
• Headquarters: Genoa, Italy
• Industry: Power Generation, Government Services
• Key Executives: Lorenza Franca Franzino (President), Fabrizio Fabbri (CEO)
• Employees: Approximately 4,500 (as of January 2020)
• Ownership Structure: CDP Equity (88%), Shanghai Electric (12%)

Business Scope

Ansaldo Energia’s portfolio includes the design and manufacturing of fossil-fuel and nuclear power plants, alongside research and development activities and government-related services. The company operates on a global scale, delivering advanced energy solutions worldwide.

History

Ansaldo Energia was established in 1991 in Genoa, building upon and expanding the legacy of Ansaldo, a firm originally founded in 1853.

In 1994, Ansaldo Energia combined forces with Ansaldo GIE, a company that had taken on this name since 1989. Ansaldo GIE was created through multiple acquisitions, including that of Gruppo Industrie Elettro Meccaniche per Impianti all'Estero, and became a wholly owned subsidiary of Ansaldo by 1991.

September 2006 marked Ansaldo Energia’s acquisition of the Dutch firm Thomassen Turbine Systems (TTS) from Calpine European Finance LLC for €18.5 million. TTS specialized in gas turbine maintenance services and operated internationally, with locations in both the Netherlands and Abu Dhabi.

In 2009, Ansaldo Ricerche S.p.A., previously part of the Ansaldo Group and later under Finmeccanica ownership, was merged into Ansaldo Energia, integrating its research activities into the company.

On March 9, 2011, Ansaldo Energia Holding—owned 55% by Leonardo-Finmeccanica and 45% by First Reserve Corporation—completed the acquisition of full ownership of Ansaldo Energia for €1.07 billion. Furthermore, Ansaldo Energia secured the rights to use the Ansaldo brand for 25 years by paying Leonardo-Finmeccanica €95 million.

Also in 2011, Ansaldo Fuel Cells, which originated as a spin-off from Ansaldo Ricerche in 2003 focusing on fuel cell technology, was incorporated into Ansaldo Energia, strengthening the group’s dedication to sustainable and innovative energy solutions.

In December 2013, the Italian Strategic Fund purchased an 85% stake in Ansaldo Energia from Leonardo-Finmeccanica and First Reserve Fund for €777 million. This transaction was formalized with the involvement of Matteo Renzi, then Prime Minister of Italy, and Defence Minister Roberta Pinotti.

On May 8, 2014, Shanghai Electric entered into an agreement with the Italian Strategic Fund to acquire a 40% shareholding in Ansaldo Energia for €400 million. The signing took place in the presence of Prime Minister Renzi and Defence Minister Pinotti. Post-transaction, ownership comprised roughly 60% held by the Italian Strategic Fund and 40% by Shanghai Electric.

In July 2016, construction commenced on a new manufacturing facility located in Genoa’s Cornigliano district dedicated to assembling advanced gas turbines originally developed by Alstom. Scheduled for completion in June 2017, this plant marked the relocation of production from Germany back to Italy. The technology transferred to Ansaldo Energia resulted from General Electric’s acquisition of Alstom, which was approved by the European Commission on condition that Alstom’s gas turbine technology be assigned to a European competitor—Ansaldo Energia was selected for this strategic role.

October 2019 saw Giuseppe Zampini transition from CEO to Chairman, while Giuseppe Marino—formerly associated with Ansaldo Breda and Hitachi Ltd—was appointed as the new CEO.

In 2020, the company introduced the GT36 gas turbine in Genoa, setting a new standard as Italy’s most powerful and efficient turbine to date. Initially dubbed "Monte Bianco" due to its exceptional power output, it epitomizes European engineering excellence.

February 2020 brought forth Ansaldo Energia’s industrial strategy covering 2020-2024, which included plans for divesting several subsidiaries such as PSM and Ansaldo Thomassen—a process subsequently completed.

As of January 2021, ownership consisted of an 88% stake held by the Cassa Depositi e Prestiti Group and a 12% stake owned by Shanghai Electric Corporation. Together they managed over one billion euros in financial liabilities. In subsequent months, Shanghai Electric increased its holding by acquiring approximately 40% of the free-floating shares.

The year 2021 also witnessed the establishment of subsidiary Ansaldo Green Tech, focused on advancing carbon-neutral energy technologies under CEO Vittorio Olcese. Starting in 2023, leadership of subsidiary Ansaldo Nucleare passed to CEO Daniela Gentile.

On March 5, 2023, Fabrizio Fabbri was named as the new CEO of Ansaldo Energia; he officially assumed his duties on April 1, 2023.

Products and services

Ansaldo Energia specializes in the production of thermoelectric power plants and operates globally, catering to both public and private energy producers as well as industrial customers. The company offers comprehensive solutions in plant engineering, manufacturing, and maintenance for installations of both thermal electric and hydroelectric power stations across more than 90 countries. In 2007, its total revenue exceeded 979 million euros.

The manufacturing facility is situated in the Genoa-Campi district and is organized into three main product categories: gas turbines, steam turbines, and generators.

Ansaldo Energia produces gas turbines with capacities ranging from 70 to 280 MW, having delivered over 140 units that cumulatively provide more than 23,000 MW of installed power. These gas turbine models are developed based on Siemens technology.

In September 2015, regulatory authorities in the European Union and the United States approved General Electric's acquisition of various units from Alstom, conditional upon divesting Alstom's GT26 and GT36 gas turbine manufacturing and servicing operations. As part of this transaction, GE transferred its GE7FA gas turbine aftermarket parts business, Power Systems Mfg. LLC (PSM), to Ansaldo Energia.

The company’s steam turbine production serves a variety of applications with power outputs ranging between 80 and 1200 MW. Generator manufacturing includes air-cooled, hydrogen-cooled, and water-cooled models engineered to handle generating capacities exceeding 50,000 MVA.

Subsidiary companies

Ansaldo Nucleare S.p.A. focuses on nuclear energy equipment production and associated services, encompassing promotion, sales, project management, engineering, contracting, manufacturing, and on-site implementation.

Ansaldo Thomassen delivers maintenance and repair services for heavy-duty gas turbine systems of GE design. It operates offices in Abu Dhabi and Rheden (Netherlands).

Ansaldo ESG AG, headquartered in Switzerland since its establishment in 1998, specializes in steam turbine servicing. Its expertise includes repairs to turbine rotors and casings, re-blading operations, generator rewinding and repairs, as well as component manufacturing.

On 25 February 2016, Ansaldo Energia acquired part of Alstom’s Gas Turbine research and development projects located in Baden, Switzerland. This acquisition was mandated by conditions set by the EU and US Department of Justice linked to the GE-Alstom Power merger. Ansaldo Energia also maintains suppliers such as Europa Construction in Albania. The newly acquired production focuses on technologies obtained following the Ligurian company’s purchase of Alstom assets from General Electric. The European Commission authorized the transaction on the condition that Alstom’s gas turbine technology was sold to a European competitor; Ansaldo Energia was selected as the purchaser.

By January 2021, ownership of Ansaldo Energia was divided with Cassa Depositi e Prestiti holding an 88% stake and Shanghai Electric Corporation owning 12%, together carrying financial debt exceeding one billion euros. In subsequent months, the Chinese partner increased its shareholding to 40%.

See also

• List of Italian companies

External links

• Ansaldo Nucleare