Building Energy to lay off 28 employees in Italy

The Italian developer has announced most of its 37-strong Italian workforce will be laid off without spelling out why.

Building Energy Spa, whose major shareholder is transatlantic investment firm Aretex Capital Partners, has decided to lay off 28 employees in Italy.

Dismissal proceedings have already started, according to Italian trade union FIOM.

“We asked the CEO of Building Energy Spa to withdraw the dismissal procedure and search for alternatives to [closing] the business but our request has been sent back to the sender,” the trade union said. “Now the negotiation is transferred to the Ministry of Labor.”

Italian renewables developer Building Energy has not responded to pv magazine’s request to explain the reasons for the move.

Aretex acquired a majority stake in Building Energy in August 2018. “We have developed a strong relationship with Building Energy over the last year and are pleased to maintain our investment and interest in our new capacity as Aretex Capital Partners, and are certain that Building Energy will continue to play a significant role in our portfolio,” said Aretex co-founder and managing partner Sergio D’Angelo at the time. “Supported by our team, the company can continue to make significant progress and further benefit from the global reach that Aretex Capital Partners brings.”

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