Cuts of incentives, increase of competition and the economic crisis have driven many Italian renewable energy companies into financial distress. Dealing with distressed companies involves additional risks and, for foreign investors looking to enter the Italian market, requires particular expertise in Italian restructuring and insolvency regulation. This White Paper provides an overview of the key elements of the relevant regulations, identifies the specific risks and opportunities inherent in the renewable energy sector and aims to serve as a guide for transactions involving distressed renewable energy companies.