The Perspective - CEO Series

As part of our new series, we are highlighting the leaders driving our growth across key markets. In this edition, we turn to Italy and speak with Eliano Russo , CEO of Zelestra Italy.

With extensive experience in the energy sector, Eliano leads the Italian business unit at a pivotal moment for both the market and the company. In this conversation, he shares his perspective on leadership, collaboration, and the role Zelestra plays in supporting the energy transition.

Q1: Tell us a little about yourself. What led you into the energy sector and ultimately to leading Zelestra?

I fell in love with the energy sector soon after getting my university degree. Over 25 years ago, I was awarded a scholarship to pursue a Master’s degree in Energy and Environmental Economics, and from that moment on, I understood that energy is the engine that powers the world.

Joining Zelestra I saw the opportunity to give the “right” kind of power to this engine — clean, reliable, and sustainable. I want to leave a significant mark in the progressive decarbonization of the energy sector and the power generation fleet, and that is what I know I can do leading the Italian team of Zelestra.

Q2: What excites you most about leading Zelestra Italy at this stage of the company’s growth?

Zelestra is at a stage where ambition meets execution. What excites me most is the ability to truly make things happen, to actively shape the evolution of the power sector in Italy and beyond by co-creating innovative, sustainable solutions with our partners.

There is strong momentum across the organization, a clear mission, and a team that is fully aligned around growth with impact.

Q3: From your perspective as CEO, what are the biggest challenges clients across markets are facing today?

Our customers want clean, affordable and reliable energy. Their challenges typically sit at the intersection of cost competitiveness, sustainability commitments, and business continuity. Our proposition represents a perfect and comprehensive answer to all their needs, and we can offer integrated solutions that support decarbonization without compromising operational resilience or economic performance.

Q4: How does Zelestra’s multi-technology approach, including solar, storage, hybrid systems, and efficiency solutions, help address these challenges?

By focusing on both solar and energy storage solutions we can help our customers to decarbonize their business while maintaining their competitiveness and security of supply. This multi-technology approach allows us to tailor solutions at scale and gives our clients confidence that their energy strategy supports long-term growth and market leadership.

Q5: Can you share an example where Zelestra went above and beyond to deliver a solution that met a complex or unique client need?

The first financial tolling agreement we signed with BKW last year is a perfect example of how we can create unique solutions to address our customers’ specific needs.

Our BESS project in Northern Italy is the largest standalone BESS project authorized in Italy today. It is a capital-intensive investment, and we had to build a predictable commercial framework to limit our merchant exposure and to lock-in a significant part of the targeted value.

On the other hand, our customer BKW, a leading Swiss utility, was seeking flexible assets to fully capture value in the market. By aligning our objectives and structuring an innovative, first-of-its-kind, financial tolling agreement, we created value for both companies and our shareholders, as well as the broader project stakeholders. It is a clear demonstration of how innovation, partnership, and shared vision can unlock new market models.

Q6: In your experience, what do clients value most when partnering with Zelestra globally?

Our customers value our flexibility and our open-minded approach. For us, “no” is never an answer. We do not wonder whether we can implement a solution requested by our customers but only how we can meet their needs. Our attitude is always that “small thing that makes a huge difference”. That mindset drives how we work and how we build long-term partnerships.

Q7: Collaboration is core to Zelestra’s identity. How does working with colleagues and teams in our other markets strengthen your ability to succeed in yours?

We are a relatively small and young team in Zelestra Italy, even if we are growing fast. This is why having the ability to rely on capabilities located in the corporate team and in other BUs is key for our success. Not only we can leverage their experiences, but we also receive very constructive feedback and challenges which helps us to push ourselves and to push our limits.

Q8: Looking ahead, what are your priorities and expectations for Zelestra over the next 12 months?

Our objective in the next 12 months is to continue targeting a profitable growth by:

• • • · Doubling the size of our portfolio from 1.4 to 2.8 GW
    • · Optimize the production of our first PV plant commissioned last year
    • · Close investment decisions and issue NTP for almost 700 MW
    • · Commercialize an additional 400 MW
    • · Create all the premises to move into execution phase with 9 projects awarded last year in the FERX and FERX NZIA auctions
    • · Hire 25 more people to further strengthen our Zelestra Italy team and strengthen our local capabilities.

Q9: And finally, outside of work, what inspires or motivates you as a leader?

My biggest motivation comes from helping colleagues and partners deliver their best. Success to me, is seeing a group of people working together and becoming a team of obsessed talents able to beat all assigned targets. A team that consistently exceed expectations while becoming better colleagues and better human beings.