Paolo Merli

Chief Executive Officer, Erg

Search every verified Paolo Merli interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. In a July 2026 interview, Paolo Merli, Chief Executive Officer of Erg, described the company’s long-term transition from oil refining to renewable energy. He stated that the company’s shift, which began around 2006, started as a portfolio diversification strategy rather than a prescient move away from fossil fuels. Merli recounted that Erg was the sole owner of the ISAB refinery in Sicily until 2008, when it began selling its petroleum assets and investing in renewables. He noted that the timing was influenced by volatile oil prices, recalling that when agreements were signed, oil was at $140 per barrel and Goldman Sachs had predicted a rise to $180, but prices fell to $39 by the end of 2008. Merli said Erg later sold its remaining conventional technologies, including hydroelectric plants, in 2021 for approximately €1.5 billion, focusing exclusively on wind and solar energy. He described the process as difficult due to the energy crisis, COVID-19, and inflation. He added that Erg has become an international company operating in nine European countries and two U.S. states. Reflecting on the experience, Merli remarked that one lesson is "never to believe Goldman Sachs," and called himself "a very lucky man," though he did not attribute the outcome to skill or foresight.