ERG stock secures five-year revenue visibility from Glencore deal

Published on 09/28/2026 at 14:59 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

ERG stock carries a five-year Glencore PPA covering 164 GWh per year from January 1, 2027. H1 2026 EBITDA reached EUR 295 million at a 72 percent margin.

Windturbinen auf grünen Hügeln in Italien, ERG S.p.A. Erneuerbare Energien Symbolbild — Fotorealistischer Windpark auf italienischen Hügeln symbolisiert ERG S.p.A. IT0001157020 im Bereich erneuerbare Energien heute, Illustration mit AI erstellt.

ERG stock was trading at EUR 22.62 on Borsa Italiana on September 28, 2026, at 2:28 p.m. CEST, down 0.18 percent from the previous close. The immediate company catalyst is a five-year power purchase agreement with Glencore that strengthens contracted revenue visibility from 2027.

Glencore contract covers 164 GWh

According to Borsa Italiana on September 25, 2026, ERG will sell Glencore Energy Europe 164 GWh of renewable electricity per year from three Polish wind farms. The baseload agreement starts on January 1, 2027, and covers 70 percent of the farms' expected output.

The contract gives the stock a clearer operating reference than spot power prices alone. It also links the Polish wind portfolio to a named industrial buyer, an important feature for revenue visibility in a power market exposed to weather and price swings.

H1 EBITDA reached EUR 295 million

Quartr reports that ERG's first-half 2026 EBITDA reached EUR 295 million, with a 72 percent margin, while net profit was EUR 83 million. The same H1 2026 summary lists adjusted EBITDA guidance of EUR 520-590 million for the full year and capital expenditure guidance of EUR 330-380 million.

That guidance frames the PPA as a visibility measure rather than a standalone earnings reset. The contract begins in 2027, while the 2026 financial profile still depends on execution against the existing EBITDA range and on capital deployment.

Stock remains below its yearly high

At EUR 22.62, ERG stock stood 13.60 percent below its 52-week high of EUR 26.18 and 10.88 percent above its 52-week low of EUR 20.40 on September 28, 2026. Market capitalization was EUR 3.3 billion and trading volume was 13,224 shares at the same timestamp.

Valuation remains a counterweight to the contract story. Simply Wall St wrote on September 27, 2026, that its fair value narrative placed ERG at EUR 23.29 against a latest close of EUR 22.66. The gap is limited, so contracted volumes and delivery against guidance are central to the next valuation step.