Delos Power
Renewables O&M · Asset management
Building a leading renewable-energy asset-management and O&M platform.
Delos Power shows how an industrial model focused on the technical management of power plants can generate both economic and environmental value.
About the investment
Delos Power shows how an industrial model focused on the technical management of power plants can generate both economic and environmental value. Founded in 2016 with the goal of optimising the performance of photovoltaic and wind plants and extending their operating life, Delos is today one of the leading asset-management and O&M operators in the Italian renewable-energy sector, serving the shareholder funds Tages Helios, Tages Helios II and Tages Helios Net Zero (Art. 9 SFDR), managed by Tages Capital SGR.
The business model — Delos today manages 372 plants across 17 Italian regions, for a total of 784 MW of installed capacity, with overall investments exceeding €1 billion. The portfolio — mainly ground-mounted, rooftop, greenhouse and tracker photovoltaic plants — also includes 2 wind plants, with further repowering initiatives already planned. Its activity spans the entire operational value chain: SPV support, preventive and corrective maintenance, technological revamping, GSE compliance, procurement and due diligence for acquisitions.
Tages adopts a unique investor-operator model with an in-house industrial platform which has proven to be a key contributor of value creation for Tages Helios, Tages Helios II and Tages Helios Net Zero: Delos is an industry-leading platform managing and operating one of the largest Italian PV portfolios, thanks to deep expertise across the entire lifecycle of renewable assets.
How we added value
Portfolio growth and consolidation. The number of managed plants grew from 315 in 2023 to 372 in 2025, with 158 revamping interventions completed over the three-year period on a total of 285 MW of affected capacity, bringing energy production to 1,113 GWh (+2% versus 2024). Operational efficiency and digitalisation. Delos' proprietary Delos Eye System, operational since 2017, enables real-time monitoring of plant performance. In 2024 Delos also internally developed a cloud-based ESG Platform for the collection, management and governance of sustainability data — monitoring ESG KPIs, supporting decision-making and helping ensure compliance with sustainability-reporting standards. In 2025 the platform was extended to the companies owned by Tages Helios Net Zero. Structured ESG governance. With the three-year Delos Impact 2025–2027 plan, the company set 19 environmental, social and governance objectives and KPIs, fully meeting the targets set for 2025 and strengthening its tools for analysing physical and transition climate risks. Greenfield projects. Leveraging existing expertise, an in-house department was created to develop greenfield projects across solar, agrivoltaic, wind and storage technologies.
At a glance
- €367 million in revenues, +16% since 2023.
- 784 MW of installed capacity across 372 managed plants.
- 499,466 households served by the clean energy produced, +33.5% since 2023.
- 511,062 tonnes of CO₂ avoided in 2025, on a steady upward trend over the three-year period.
- 100% of activities aligned with the EU Taxonomy (CAPEX, OPEX and revenues).