CVA Group is one of Italy’s leading renewable energy producers, with more than 1.3 GW of installed capacity across hydropower, wind and solar plants. Fully publicly owned and controlled by the Autonomous Region of Aosta Valley, the Group operates across the entire green energy value chain and, through its subsidiary DEVAL, manages almost the entire regional electricity distribution network. 

As part of a growth path that also aims to double installed capacity, CVA chose to strengthen the climate resilience of its infrastructure with tools able to read risk in a more quantitative, granular and forward-looking way. 

For those managing electricity networks in mountainous areas, climate risk has a specific layer of complexity. Infrastructure runs through narrow valleys, crosses areas with high hydrogeological hazard, and is simultaneously exposed to multiple risks such as floods, wildfires and landslides. Official maps remain an essential reference, but they do not always provide the level of granularity needed for asset-level decisions. Detailed engineering assessments, on the other hand, are time-consuming and difficult to scale across an entire region. 

A further dimension is now impossible to ignore: the future. It is no longer enough to understand today’s risk. It is also necessary to understand how that risk may evolve over the coming decades, in order to guide investments, adaptation strategies and operational priorities. 

It is in this context that CVA started working with Eoliann, selecting as a first scope of analysis part of its electricity network and 20 substations in Aosta Valley, with the aim of moving towards a more advanced approach to climate risk assessment. 

The project 

CVA and Eoliann jointly developed a project based on Airis technology. Rather than limiting the work to hazard assessment alone, the analysis covered the full risk chain: from the probability and intensity of events to asset vulnerability, all the way to the estimation of expected economic damage. 

CVA provided the geospatial data of the network, guided the selection of the pilot assets, and contributed its knowledge of the territory to validate the results. 

1. Asset segmentation and analysis

Power lines were divided into 30-metre segments, consistently with the resolution of the models. Each segment and each substation were then analysed through Eoliann’s proprietary models, trained on satellite data, climate variables and geomorphological features of the territory. 

2. Hazard and event intensity

The analysis focused on two main hazards: 

• Floods, assessed through flood depth across 20-, 100- and 200-year return periods 

• Wildfires, analysed through the Fire Weather Index (FWI) across 2-, 10- and 30-year return periods 

A first layer of landslide risk assessment was also included. 

3. Vulnerability and expected economic damage

For each asset, Airis estimated not only hazard, but also its specific vulnerability depending on the infrastructure type, together with the Average Annual Loss (AAL), a metric that captures the average economic impact of risk over time. 

Each asset was therefore assigned both a Hazard Index and a Risk Index on a 0–10 scale. 

4. Climate projections for 2040 and 2050

All analyses were carried out both for the current scenario and for future climate scenarios, with 2040 and 2050 horizons and RCP 4.5 and RCP 8.5 scenarios. 

This allowed CVA to understand not only present-day risk, but also its possible evolution over time, in line with key European requirements on disclosure and adaptation. 

Map of the flood risk index across the electricity network – Baseline 2025 

The results 

The project delivered a complete risk profile for more than 3,600 network segments and 20 substations, with a reading that goes from hazard all the way to expected economic damage, also including projections for 2040 and 2050. 

Value generated 

A complete reading of risk 

CVA now has access not only to a measure of hazard, but also to an estimate of vulnerability and expected economic loss for each asset. 

A view into the future 

The 2040 and 2050 projections make it possible to plan adaptation investments based on how risk may evolve, not just on today’s snapshot. 

Clearer priorities for intervention 

The most exposed lines and substations were identified precisely, providing a quantitative basis for maintenance and resilience planning. 

Multiple hazards, one single framework 

Floods, wildfires and landslides were analysed through the same logic and on the same data foundation, resulting in a more integrated view of risk. 

Why it matters 

The project with CVA clearly shows what it means to move from a fragmented reading of risk to a more complete one, able to keep present and future together. 

Because strengthening the resilience of a network does not only mean knowing where risk is concentrated today. It also means understanding how it may change over time, and starting to make decisions accordingly. 

Would you like to put Airis to the test on your assets? Request a demo. 

Climate risk is still often treated as a distant issue. But for infrastructure, networks, and critical assets, it is already a factor that affects how they operate, how resilient they are, and how muchthey are worth—especially in the face of extreme climate events. 

When this perspective shifts, the way decisions are made shifts as well. 

This is why Climate Risk Analytics becomes a lever to strengthen, adapt, and evolve the systems on which services and territories depend.  

What is climate risk 

Climate risk refers to the probability that climate change–related events generate negative impacts on energy networks, transport systems, telecommunications, and critical physical assets. 

It can be analyzed across different categories: 

• Physical risks, either acute (sudden events such as floods, wildfires, or storms) or chronic (gradual phenomena such as rising temperatures or drought) 

• Transition risks, linked to changes in regulations, technologies, and markets as the energy and industrial system evolves 

• Liability risks, arising from legal and financial consequences when damages and losses are attributed to failure to prevent or manage risk 

Through a thorough analysis of climate risk, knowledge can be turned into a strategy capable of guiding decisions, actions, and investments over time.  

From risk to resilience: why we need to act now 

The climate is changing faster than many infrastructures can adapt, increasing exposure to extreme events. 

When a power line fails, a transport network is disrupted, or a facility is under stress, the issue affects service continuity, community impact, and public trust. 

This is why climate risk is now directly linked to the concept of resilience. It means protecting what exists while preparing systems and assets to operate under conditions different from those of the past. 

This requires a shift in approach: from reacting to events to making decisions before they occur. 

What is Climate Risk Analytics 

Climate Risk Analytics is a process that combines data, predictive models, and forward-looking scenarios to estimate the impact of climate on infrastructure and assets. 

It does not simply describe risk. It makes it actionable by enabling: 

• Assessment of the real exposure of infrastructure 

• Estimation of physical and economic impacts 

• Comparison of future scenarios 

• Support for operational and strategic decisions 

The break from traditional approaches is clear. 

It moves beyond the use of historical data and static maps, building a dynamic, predictive, and asset-based understanding focused on networks in energy, telecommunications, and transport. 

How climate risk is measured 

Measuring climate risk involves: 

• Data collection – climate data, satellite data, and asset information 

• Exposure analysis – where and how assets are exposed to events 

• Vulnerability assessment – how sensitive an asset is to a given event 

• Impact modeling – estimation of physical and economic damages 

The most advanced models combine Earth Observation, machine learning, and climate models to simulate future scenarios. Even small variations can be detected and analyzed, helping trace new paths toward a more resilient world. 

Components of Climate Risk Analytics 

What is Climate Intelligence and why it matters today

Climate Intelligence refers to the set of methods and tools that transform complex climate data into actionable insights. 

It enables the identification of patterns, the interpretation of weak signals, and the anticipation of how climate risk distributes across networks and infrastructure. 

Scenario Analysis: how to assess future climate changes

Climate Change Scenario Analysis uses climate models to simulate possible future evolutions of climate risk. 

These simulations are based on different emission pathways and allow organizations to assess how risk will evolve over time. They are essential for long-term investment planning. 

What is a Climate Risk Index and how it is used

A Climate Risk Index is a composite indicator that measures the level of climate risk for a given area or asset. It may include variables such as event frequency, intensity, and vulnerability.  It is used to compare territories, prioritize interventions, and communicate risk clearly. 

How climate risk analysis software works 

Climate risk analysis software transforms complex data into maps and indicators that make visible how risk develops and evolves over time. 

There are two main approaches: 

• Static tools based on predefined datasets and point-in-time analysis 

• Dynamic models that are continuously updated and capable of simulating scenarios 

The most advanced systems use AI and satellite data to deliver high-resolution analysis and projections beyond 20 years, turning risk from a reactive element into a decision-making lever. 

New approaches to Climate Risk Analytics: Airis

Climate risk analysis can no longer rely solely on static maps and historical datasets from public authorities. This approach does not allow for estimating probability, intensity, or physical and economic impacts on assets and networks. 

Airis shifts the paradigm, moving from a geographic analysis to an asset-based perspective and positioning itself as an advanced climate risk analytics solution. 

By combining satellite data, physical models, and machine learning, it enables organizations to: 

• Visualize how risk is distributed across networks and critical nodes 

• Compare scenarios over time and understand their evolution 

• Translate risk into concrete impacts and usable metrics 

Airis is a climate resilience tool that turns complex data into operational decisions. 

Why Climate Risk Analytics matters for companies, investments, and ESG 

Climate risk is now embedded in the decisions that guide investments, value protection, and long-term management. 

Regulations (such as TCFD and CSRD) increasingly require organizations to assess and integrate climate risk into decision-making. Within ESG frameworks, this factor becomes central in measuring robustness and adaptive capacity over time. 

For those managing assets, networks, and infrastructure, this means: 

• Protecting asset value 

• Improving decision-making capabilities 

• Meeting regulatory requirements 

For investors and insurers, it enables a more accurate assessment of risk and return. 

In this context, Climate Risk Analytics becomes the lever for building strategies that are both robust and adaptable over time. 

FAQ

1. How is Climate Risk Analytics integrated into corporate decision-making processes?

   It is integrated into investment, planning, and asset management processes by providing data and scenarios that help assess risks and priorities before decisions are made.
   

2. What data is needed to start a climate risk analysis?

   Asset data, geographic information, and both historical and predictive climate data are required to assess exposure, vulnerability, and impacts.

3. How reliable are climate risk forecasts?

   They do not provide certainty, but probabilistic scenarios based on scientific models, useful for comparing options and making more informed decisions.

4. Which sectors benefit most from Climate Risk Analytics?

   Infrastructure, energy, transport, real estate, and finance are among the most exposed, as they depend on physical assets sensitive to climate events.

5. What is the difference between climate risk analysis and risk management?

   Analysis measures and interprets risk, while management defines the actions to reduce or adapt to it. 

Some ideas are born from an intuition. Others come from a more precise tension: the feeling that the world is changing faster than the tools we have to read it.

That is how Eoliann began.

From a question that felt to us both simple and radical: how do you take a reality that is increasingly unstable, unpredictable and complex, and make it understandable enough to act on?

It was a question about climate, of course. But also about the way we make decisions: about the gap between what we know and what we are actually able to do.

That is where our path began.

2022: from an idea to a shared vision

Eoliann carries a tribute to its origins in its very name: Vento, the venture building program created to support the development of high-potential new ventures, held each year at OGR Tech in Turin.

It was in that context that Roberto, Chiara, Emidio and Giovanni began shaping Eoliann’s vision, working for six months to define the scope of the project, outline the first elements of the technological framework and test the strength of the idea.

In June 2022, Eoliann was officially founded as a Benefit Corporation.

In November of the same year, with the closing of a €1.5 million pre-seed investment from Primo Space and Exor Ventures, we had what we needed to turn ideas into reality, with the support of an exceptional team.

2023: the first signs of validation

2023 was the year when we began to see our trajectory take shape.

In October 2023, after being selected among the 10 finalists of the Data Science for Resilience programme, Ternabecame our first client. For us, it was a defining milestone: the moment our work began to measure itself against a real, complex and high-impact challenge.

In November 2023, Eoliann was included in FinTech Global’s ESGFinTech100 ranking.

In December 2023, NTT DATA recognised the potential of our path and launched a strategic partnership with us.

2024: international opening

2024 marked a further acceleration.

In February 2024, we were the only non-US startup selected to join the Wharton School Cypher Accelerator, one of the most prestigious programmes on the international stage.

In March 2024, we reached third place in the Great Place To Work Italy ranking: a recognition that meant a great deal to us, because it reflects the kind of culture we want to build.

In April 2024, we became a partner of the European Space Agency through the InCubed programme. It was an important step, strengthening our work on the integration of satellite observation, modelling and predictive capability.

At the same time, we continued working with infrastructure and institutional players such as Terna, CVA and Regione Piemonte, defining more and more clearly our way of operating: with scientific rigour, vision and practical applicability.

2025: a new phase

In October 2025, we closed a €4.25 million Seed round, a key milestone that will allow us to accelerate our growth, expand our climate risk coverage and support our international expansion.

It was a moment we experienced with enthusiasm and gratitude. This capital increase was led by Montage Ventures, together with CDP Venture Capital SGR, Primo Capital, Terna SpA Forward and OpenEconomics.

That same year, we also received the ENI Joule for Entrepreneurship special mention, awarded at the Quirinale by the President of the Republic: a recognition that reminds us of the deeper purpose behind our commitment.

2026: Airis

After this path, in 2026 our work took on an even clearer shape in Airis, our proprietary climate risk analytics and resilience intelligence platform.

Airis was created to translate years of research, development and field experience into a concrete tool: one that can analyse exposure and vulnerability, assess climate risk across different time horizons and quantify direct and indirect damages, providing an operational basis for planning interventions, setting priorities and supporting more informed decisions.

For us, Airis is the synthesis of all the work we have done over these years: the point where vision, technology and application meet and open out to the world.

Looking back, looking ahead

Looking back at Eoliann’s story today means seeing a sequence of milestones, but above all recognising a tension that has remained the same from the beginning: turning uncertainty into the capacity to act.

Over time, we have understood that building technology, for us, does not only mean building accuracy. It also means building closeness: developing tools that are understandable, relevant and adoptable, designed to stand beside decisions, not above them.

That is why we are not interested in reinforcing the idea of a future defined only by threat. We want to help build tools to inhabit it better.

In the end, Eoliann keeps being born every time we find a better way to read risk, every time we make a decision more informed, every time we help someone see in unpredictability not only a threat, but also a space for intervention.

And that is still where we want to begin: from this stubborn and luminous idea that, even in a more unstable world, it is possible to understand better, choose better and prepare better.