Comal SpA: Agreements for the construction of 3 photovoltaic plants


The first agreement, worth over 19 million euros, provides for the construction of a photovoltaic plant of 75.5 MWp ​​near Viterbo, including the supply of trackers, and involves the use of technology designed and made by Comal. Delivery times of the trackers are by April 15th and of the plant by August 1st, 2021. The client is an important foreign investment fund in the green energy sector, and the contractual formula is Engineering, Procurement, Construction, Management (EPC-M), and Operations and Maintenance (O&M).

The second contract, worth over 3 million euros, concerns the construction of two photovoltaic systems of 12MWp, including the supply of trackers, located in the province of Latina. The delivery times of the trackers are by May 15th and of the plant by the end of October 2021. The client is also, in this case, a foreign investment fund, and the contractual formula is that of EPC-M and O&M.

Alfredo Balletti, Comal's CEO, commented: “These two contracts represent a reason of great satisfaction for us. They are the first ones after the recent listing on the stock exchange on December 16th, in which context we communicated to the market that the main objective was to continue the growth path recorded in recent years. The development of the new photovoltaic parks, which will be built by 2021, confirms the interest on the part of investors to believe and support this type of technology, which is experiencing a strong expansion in Italy and in Europe and could accelerate with the approval of the Recovery Fund which explicits the need to increase investments in alternative energy.”


Moreover, the Board of Directors of Comal S.p.A. has approved on the 25th January 2021, under “Article 17 of the AIM Italia Regulation, the dates relating to the main events of the 2021 financial calendar. Any changes will be promptly disclosed to the market.

19th March 2021Board of Directors for the approval of the draft annual and consolidated financial statements at December 31st, 2020
20th April 2021

1st convocation

30th April 2021

2nd convocation

Shareholders' meeting to approve the financial statements as of December 31st, 2020
20th September 2021Board of Directors for the half-yearly financial report's approval at June 30th, 2021, voluntarily submitted to a limited audit.


The aforementioned 2021 financial calendar is available on the Company's website in the section “Investors / Investor Relations / Information for shareholders / Financial Calendar.***

Lastly, it should be recalled that Comal S.p.A. announced on the 17th December 2020 that has received by Borsa Italiana S.p.A. the provision relating to the admission to trading of its ordinary shares on the AIM Italia market, managed and organized by Borsa Italiana S.p.A.. The start of trading was scheduled for December 16th, 2020.

Through the IPO operation, which took place entirely through a capital increase, resources were raised for a total value of € 8 million, through placement, at the price of € 2 each, of a total of 4 million newly issued ordinary shares.

At the start date of the negotiations on AIM Italia, the share capital of Comal S.p.A. will be represented by a total of n. 11 million and 500 thousand ordinary shares, with a free float of approximately 35%, for an expected capitalization of € 23 million.

Guido Paolini, President of Comal, commented: “Today is a historic day for the Company; the Admission on AIM Italia is the beginning of a development path that sees the Company's objectives to become a leader in the renewable energy sector in Italy and to consolidate its presence abroad. We embarked on this path convinced that the listing was the best way to gain visibility and support our growth projects, and the positive outcome of the process confirms this. Finally, I take this opportunity to thank all those who believed in our project from day one, Comal employees, investors, and our consultants.”

In the listing process, Comal is assisted by Alantra, as Nominated Advisor and Global Coordinator, by Ambromobiliare S.p.A. as Financial Advisor, by Gianni & Origoni as Legal Advisor, by Mazars Italia S.p.A. as Auditing Company, by A2B Group as Consultant for non-accounting data and by CDR Communication S.r.l as Company Consultant for Investor & Media Relation.

The Admission Document and this press release are available at the Company's registered office and in the Investor Relations section of the website It is also known that, for the dissemination and storage of regulated information, the Company uses the 1INFO-SDIR circuit managed by Computershare S.p.A..