CDP Eyes Gulf Investors for Ansaldo Energia Stake

Italian state lender CDP is reportedly in talks with Middle Eastern sovereign wealth funds, notably Abu Dhabi's Mubadala, for a substantial stake sale in Ansaldo Energia. The proposed transaction involves offloading between 15% and 35% of the power plant developer. This move is seen as part of a larger strategy to expand Ansaldo Energia's operational footprint within the Gulf region. Ansaldo Energia, which specializes in turbines and power generation technology, has seen a resurgence in profitability, posting a net result of €20 million in the last fiscal year after several years of losses. Orders for the company have also seen a significant increase of 24% year-on-year, reaching €2.3 billion. The company's recent success is partly attributed to the burgeoning demand for energy, particularly linked to the rapid international growth of data centers supporting artificial intelligence technologies. Ansaldo Energia has a notable presence in the UAE, having previously secured a contract for a major power plant and invested in local service facilities. Talks with Mubadala are reportedly more advanced than with other potential investors, indicating a strong possibility for a finalized agreement that would see Ansaldo Energia play a role in developing gas-fired power plants in the region. CDP Equity is expected to maintain complete ownership control despite the partial stake sale.