eng / ita

Your reliable partner for energy challenges

REA Srl – Reliable Energy Advisors is an Italian independent advisor operating in the Green Economy, specialized in providing top-level services for energy and utilities markets, with main focus in renewable energy, water and environmental industries.

0 + 0
investments (Mln€)
0 + 0
power (MW)
AIAS Associazione Italiana dell'Energia Elettricità Futura

REA Hosts Successful Welfare Day Highlighting Partnership With Vis Fit Suite

June 17, 2024 - REA is proud to announce the success of our Welfare Day event, held at the innovative S/PARK: a day focused on promoting corporate wellness through a series of impactful initiatives and collaborations.

Corporate Welfare Initiatives
Our comprehensive welfare programs are designed to integrate diverse generations, promote sustainability, and support the green transition. These initiatives include in-house training, a green workplace, EV/E-bike charging points, a rooftop garden, a gym, and comprehensive insurance policies to create a balanced and supportive work environment.

The highlight of the Day: Partnership with Vis Fit Suite
We are pleased to announce our new partnership with Vis Fit Suite. This collaboration enhances our wellness program by offering personalized fitness and nutrition plans. With qualified personal trainers and coaching sessions held three times a week, our employees benefit from tailored workouts, nutritional advice, and continuous motivational support. This partnership ensures that our team members maintain their physical health and well-being, which is crucial for productivity and job satisfaction.

We extend our gratitude to everyone who participated and helped make this event a remarkable success. Your engagement and enthusiasm were truly inspiring.

Site assessment and verification of permitting simplifications: SIMPLIFICATIONS: Solar-belt e Agrobelt

Thanks to its in-depth knowledge and extensive experience in the field of territorial, landscape and urban planning analysis, as well as technical-regulatory aspects in the field of renewables, REA offers a highly reliable Site Assessment service aimed at identifying areas that can be used for the construction of photovoltaic and wind power plants, which takes into account all the territorial constraints present, highlighting those that preclude the possibility of building the plant and those for which special opinions, permits or authorizations are instead required, with the aim of defining, highlighting it through suitable maps, the area "useful" for the construction of the plant and consequently the installable power.

At the same time, for photovoltaic plants, the analysis expands to the verification of the existence of the requirements provided by the regulations in force in order to verify whether the conditions exist to fall within the so-called solar-belt or agro-belt and whether the areas are among the eligible areas under D. lgs. 199/2021, for the purpose of the applicability of PAS to authorize the plant. The consulting activity also includes verification of whether the conditions for raising the EIA screening threshold to 20 MW are met, which is necessary for the company to issue the self-declaration in the authorization procedure.

Due diligence on plants under development

In addition to the Site assessment service, REA offers a comprehensive consulting service for projects under development, including additional activities, depending on the specific needs of the Client and the stage of development of the plant:

  • Site assessment: territorial analysis aimed at identifying constraints of an urban and landscape nature on the project area, including connection works, in order to identify the area useful for the installation of the plant and all opinions, opinions, clearances necessary for authorization purposes;
  • Verification of existence of the requirements for the applicability of regulatory simplifications and evaluation of the most correct authorization process: solar-belt, agro-belt, applicability of PAS, verification of suitable areas, verification of the environmental assessment procedure to be followed, etc;
  • Cadastral identification of the project areas and verification of existence of suitable titles of availability;
  • Verification of the connection solution: status, complexity, cadastral identification, area availability, required permit titles, estimated connection costs;
  • Site visit to verify land status, site accessibility, any infrastructure present and interference, etc;
  • Verification of existence of the technical requirements to fall under the classification of "agrivoltaic" plant under the MiTE Guidelines of June 2021;
  • For plants with authorization processes already started or concluded, evaluation of the ongoing process, of any opinions obtained, or of the final measure, with evaluation of any prescriptions, also in case of compliance verification, and of the impact both in terms of power/project and economic in case compliance verification is required, verification of the correct fulfilment of the prescriptions on project scope and the issuance of the favorable opinion by the body in charge of such verification.

Law No. 34 of April 27, 2022, converting the so-called "Energy Decree" followed up on the path already taken with the so-called "DL Simplifications" and Legislative Decree. 199/2021 (RED II), introducing numerous regulatory simplifications particularly aimed at photovoltaic plants; among the most relevant is certainly the identification of certain areas to be considered "suitable" for the installation of plants, as well as the possibility of using the Simplified Enabling Procedure (PAS) to authorize photovoltaic plants, even large ones, and the related connection works, provided that they are located in "suitable" areas, or in industrial, commercial or agri-voltaic plants within specific areas defined within the scope of the same decrees. Likewise, a power threshold (10 MW) was introduced beyond which photovoltaic plants are subject to national EIA and simplifications consisting in raising the EIA screening threshold to 20 MW for plants not falling in those areas particularly sensitive and vulnerable to territorial or landscape transformations identified pursuant to letter f) of Annex 3 attached to the Decree of the Minister of Economic Development DM September 10, 2010 ("National Guidelines"), provided it is attested through a self-declaration by the proponent of the plant, to be filed together with the PAS . The certainty in the possibility of application of the PAS and/or exemption from environmental procedures, with the consequent assumption of responsibility related to the self-declaration, and the verification of the conditions that ensure its proper consolidation, are therefore also extremely relevant for the bankability of projects.

For more information on REA's technical advisory services, contact us at 051 0549750 or email segreteria@readvisor.eu.

Water and environment area

More than 30 water and environmental operators (managers and Ambit Authorities) have already chosen REA's assistance to face the challenges of ARERA regulation. Starting with tariff maneuvers, the consulting activity extends to the main regulatory requirements needed for a conscious and efficient management of water and environmental services.

Service tariff (Water - MTI-3 Waste MTR-2)
ARERA Resolution 580/2019/R/idr ARERA Resolution 363/2021/R/rif
Recipients of the service:
  • Area Authorities
  • Water and environmental managers
Accounting Unbundling
ARERA Resolution 137/2016/R/com
Recipients of the service:
  • Water managers
  • Environmental managers (current faculty)
Assistance in ARERA inspections
ARERA Resolution 569/2017/E/Idr
Recipients of the service:
  • Water managers
  • Environmental managers
Advice on regulatory choices and verification of in-house assignments
Recipients of the service:
  • Area Authorities
  • Trade associations
  • Regions and local authorities

Technical Advisory


REA is the best in class in Italy in technical advisor for renewable energy technologies and in energy efficiency, with a team of engineers and advisors with an experience matured starting from 2005. Our Due Diligences aim to evaluate projects' bankability, plants' reliability as well as assessing the risks related to the investments projects in the green techs, both the regulatory aspects, and urban and real estate aspects, as well as exquisitely technical and performance aspects.

REA offers a full spectrum of high quality services, recognized by more than 100 clients, supporting financing operations as well as in the field of assets acquisitions by investments funds.

REA is a listed technical advisor for the main Italian and European banks, and is chosen by the leading Italian and international funds.

Thanks to a tailor made approach unique of its kind, REA is a unquestioned reference point and top benchmark for the compliance audits for GSE's controls.

A team of advisors with more than 10 years experience with more than 4GW of installed power already assessed, under the lead of Eng. Paulangelo, covers a wide range of engineering competences: electronic, mechanical, structural, environmental civil and, of course, electric.

Market & Financial Advisory


REA offers a complete selection of M&A services: from project financial modeling, to valuation and support in transaction negotiations, from due-diligence to post-acquisition integration. Thanks to a proven track-record and a multidisciplinary highly-skilled team, REA is able to correctly define business plans assumptions and identify asset specific risks and attractiveness, providing accurate valuation estimates with respect to technical issues, operations and market & regulatory contexts. REA provides ad hoc modeling services to support in supplier selections, bidding strategies, debt structuring and arranging or M&A transactions.

In addition, REA provides independent asset appraisal services for investment funds and IAS/IFRS compliance.

REA offers in-depth analysis of market trends and dynamics of power, gas and environmental markets. Market strategic advisory services are focused on national and Euro-Mediterranean markets: Renewable Energy industry, Power & Gas markets and Waste-and-Water sector, analyzing both Public Utility regulated businesses and Industrial dynamics, trends and outlooks. REA provides benchmarking activities, assessment of regulatory frameworks and critical analysis of market recent developments. Business intelligence includes terms and conditions on typical contractual structures, debt and equity transactions, participants and commercial terms. REA services are provided in the form of ad hoc reports, spreadsheet databases and, when required, of seminars at client offices.

Water & Waste Management


Waste and water regulation has recently been object of a radical review process aimed to promote the industrial development of the industrial sectors overseeing the fruition of sensitive public services. A new regulatory framework has been defined: same rules across the whole country and a brand new an incentive scheme as a stimulation for a middle-long term investment cycle capable to revamp the services considered as strategic for the country.

Taking advantage of the strong experience gained in the energy sector, REA has expanded scope of services to environmental and water investment industries, offering top level practice thanks to a skilled team of professionals with a twenty years experience in services, infrastructures and regulated companies of wastes and water services.

Offered services by Water & Waste Management Area, chosen by more than 20 clients among Gestori, Enti d'Ambito e Asset Company are: tariff regulation, unbundling, corporate financing lines, expert reports for plants and holding assessment, contractual quality.

Engineering & Development


With the entry of the director Fabio Amico in 2017 REA extended the range of its services with the support in the develop of greenfield projects, first and foremost for wind and photovoltaic project for leading investors, IPPs and Yield.Co operating in renewable energies.

Thanks to a unquestioned network of local technical partners and to its ascendancy with Regional authorities and energy distributors, REA develops utility scale projects with technical solutions and identification of sites capable to guarantee the best energy performances and extremely competitive LCOE.

REA assists its clients in the whole process of development with its services of executive planning, works supervision and the coordination for safety and health at both project and execution stages, complementing with the latest techniques of procurement and agile project management capable to guarantee the respect of the investments' schedules.

REA's projects, thanks to the national and international standing recognized in the advisory, are extremely attractive for financial investors: bankable contracts, better technologies with competitive provision conditions, advanced designed without need to rework and with efficient and reliable Balance of System, optimal sites, complete authorizations, and well structured, complete and user-friendly datarooms.

Asset Management


Asset management services, provided through the scope Company REM Srl – Reliable Energy Management with a dedicated operative structure, are designed to provide specific support in the management of renewable energies assets.

With its first 100MW under management, REM represents the only independent asset manager in the renewable sources Wind, Solar and Hydro capable to capable to combine the high reliability given by the decades of experience of the team, the thorough technological industrial approach to the assets' operational and commercial management, the great care of the regulatory aspects of the energy business and the proper management of GSE's incentives.

Thanks to the earned standing among green financial investors and banks, REM is the favorite player for the temporary management of distressed assets, and for the turnaround support in the renovation of energy assets. REM cooperates with utilities and industrial opertors in the set up and training of the organisational structures, implementing process design dedicated to the operative administration of energy power plants.

  • 210624
  • 140224
  • 120124
  • 211223
  • 050623


  • AIAS - Italian Sustainable Agrivoltaic Association - is born. REA Srl as a founding member and Barbara Paulangelo as a member of the Board of Directors

    13 | 11 | 22REA insights
  • Third edition of the Luiss Business School Executive Programme "Management and Administration of the Water Sector - MASID"

    03 | 10 | 22REA insights
  • REA alongside the South in overcoming the water service divide and activating emergency tools against energy price increase provided by ARERA.

    19 | 09 | 22REA insights

    08 | 09 | 22REA insights
  • REA, technical advisor for Theia Investments on the acquisition of two Solar PV plants for a total of 10.1 MW in Sardinia

    03 | 05 | 22REA insights
  • REA S.r.l. as technical advisor for the JV Acea Equitix with more than 100 MW in Italian PV solar energy

    23 | 03 | 22REA insights
  • Small Business Awards: REA has been nominated for the Small Business Awards as “Best Independent Energy & Utilities Advisory Firm-Italy”

    01 | 02 | 22REA insights
  • REA Srl joins AIEE: a tangible commitment to the Italian energy transition

    25 | 01 | 22REA insights
  • Now online the result of Arera's meeting n. 1183

    22 | 12 | 21REA insights
  • REA S.r.l. alongside Ivpc Group and Banco BPM. S.p.a. in the project finance of the Poggio Imperiale wind farm

    21 | 12 | 21REA insights
  • Giuseppe Mastropieri has been appointed as expert evaluator in the programme “Mission Innovation” by the Ministry of the Ecological Transition

    26 | 10 | 21REA insights
  • Santella leading Soelia Spa Waste Management in Argenta (FE)

    03 | 02 | 21REA insights

    21 | 01 | 21REA insights
  • SMALL BUSINESS AWARD: REA has been nominated for the Small Business Awards as “Best Renewable Energy & Utilities Advisory Firm-Southern Europe”.

    07 | 01 | 21REA insights

    06 | 10 | 20REA insights
  • Renewable energy communities and collective self-consumption

    17 | 09 | 20REA insights
  • Mastropieri appointed as expert for the European Commission IEC Programme: on track with the Green Deal project valuations

    03 | 06 | 20REA insights

    26 | 05 | 20REA insights
  • WEBINAR-Green Economy: “Funding and tools for businesses relaunch” Friday 29th May 11:00-12:30

    25 | 05 | 20REA insights
  • LUISS Business School's excellence education to meet the challenges of the MTI-3 water

    29 | 01 | 20REA insights

Giuseppe Mastropieri, PhDmanaging partner


REA's managing partner and founder, PhD Giuseppe Mastropieri thanks to his 15 years' experience in energy consultancy has acquired an in-depth and widespread knowledge of the Italian and european renewable energy industry.

During his career Mastropieri served more than 400 industrial and financial clients in different energy consulting firms – both financial and technical – he worked for.

Overall he provided advisory services in more than 370 investments projects, accounting about 4 GW of power for a financial value of about 5 billions Euro.

Currently, Mastropieri has been a board member of assoRinnovabili, the leading italian trade association of renewable energy producers (more than 700 RES producers for 12 GW of power capacity), now merged in Elettricità Futura. Mastropieri is often involved by banks and investment funds, with REA's management team, to lead turnaround and revamping project of distressed assets.

Thanks to his standing, Mastropieri is chosen as consultant leader in sensible and relevant litigations involving leading energy and financial players providing complex industrial advisory services to manage transaction disputes.

Mastropieri holds a PhD in Industrial Engineering achieved at University of Padua and he is currently teaching as a contract professor in Economics and Management of Energy Utilities in Electrical Engineering course at University of Bologna. Dr. Mastropieri is also faculty member at Energy Management Master promoted by University of Bologna.

Giuseppe Mastropieri

Barbara Paulangelo partner & technical director


REA's founding Partner and Technical Director, Barbara Paulangelo has more than ten years' experience in energy consultancy, gained providing advisor services in technical due diligences and M&A operations for prominent banking institutions and investment funds.

Since 2007 she has been technical advisor in more than 350 investment projects achieving excellence in structured finance operations and deal negotiation.

Furthermore, she is specialized in providing technical notes and expert reports for litigations in the energy field. Ms. Paulangelo has a strong confidence on energy regulation for power generation and transmission as well as a remarkable industrial know-how in photovoltaic, wind and biogas power plants.

Moreover, she has a commendable experience of high efficiency CHP and heat recovery systems for industrial applications. Before REA's engagement, Ms. Paulangelo has been senior advisor of a primary Italian energy consultancy firm. Ms. Paulangelo graduated cum laude in electrical engineering from Polytechnic of Bari and holds a second level master in Energy Management.

Barbara Paulangelo

Maria Luisa Santella director water & waste area


Chartered Accountant and senior economist specialized in the field of utilities and public services, Ms. Santella gained a solid experience with more than 18 years in water, public transports and waste sectors working with leading national consulting firms in the field of industrial and tariffs planning, including REF, Nomisma and LUEL.

She has joined REA's Board of Directors as head of Water and Waste Management Area in January 2015 and achieving at the end of 2017 a clients portfolio with more than 20 clients among companies and Authorities.

During the last years, she oversaw the application of the new promising tariff regulation introduced by Italian Authority ARERA (ex AEEGSI) in several Italian regions, from Veneto to Sicily, from Emilia-Romagna to Umbria, accruing an in-depth knowledge of regulatory mechanisms and processes of business reconstruction due to the gradual refinement and enlargement of ARERA's regulatory activity (water unbundling, contracts' quality, tariffs).

Maria Luisa Santella

© REA Srl

Reliable Energy Advisors
VAT no/Fiscal Code 03268091208
Share Capital of €130,000 fully paid up
Privacy Policy

Elettricità Futura

Head office

S/PARK via Matteotti, 31/2
40129 Bologna
Ph. +39 051 0549750
Work with us

Le Fonti Awards Small Business Awards 2020 Small Business Awards 2021


Sorry! Your browser is too old and it is not supported.