Published by Global Banking & Finance Review®
Posted on October 2, 2025
2 min readLast updated: January 21, 2026
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Ansaldo Energia plans acquisitions in Asia to double sales, targeting Vietnam and Malaysia, says CEO Fabrizio Fabbri.
MILAN (Reuters) -Italian power plant developer Ansaldo Energia is looking to expand into new markets such as Vietnam and Malaysia through acquisitions as its aims to double its turnover in the coming years, its chief executive said on Thursday.
The group, which also makes nuclear reactors and is owned by Italian state lender Cassa Depositi e Prestiti, recovered from a slump caused by falling orders during the COVID pandemic and is now looking at increasing its footprint outside Europe.
"We need to change scale, grow, find new partners and invest in capacity and technology," CEO Fabrizio Fabbri told reporters on the sidelines of the Energy Summit conference in Milan.
"This means acquisitions... we need to produce more."
Fabbri said the company aims to strengthen its position in the thermal power sector, which includes gas and steam turbines and generators.
Ansaldo is already present in countries such as the United Arab Emirates and China, and is looking next to Vietnam and Malaysia.
"We are analysing several opportunities. We are not in a hurry, but we know we need to grow and double our turnover in the coming years," Fabbri said.
Separately, the group said on Thursday it completed the upgrade of an Italian power plant owned by Swiss group Alpiq, installing turbines that could replace up to 25% of natural gas with hydrogen.
($1 = 0.8511 euros)
(Reporting by Francesca Landini, editing by Alvise Armellini and Susan Fenton)
An acquisition is a financial transaction in which one company purchases another company, gaining control over its assets and operations.
Turnover refers to the total revenue generated by a business during a specific period, typically measured annually.
Gas turbines are engines that convert natural gas or other fuels into mechanical energy, commonly used in power generation.
Thermal power is electricity generated by converting heat energy, usually from burning fossil fuels, into electrical energy.
Hydrogen energy refers to the use of hydrogen as a clean fuel source, producing energy through combustion or fuel cells.
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