Eni Expands Green Portfolio

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Italian oil major Eni — through its green arm Plenitude — has expanded its energy transition business with an agreement to buy PLT. The Italian energy holding company has operational and in-development renewable projects in Italy and Spain, plus a small retail customer base in Italy. Roughly 400 MW of predominantly wind power is in Italy, with some 80% operational and the rest due on line in 2024. Some 1.2 GW of mainly wind projects in early stages of development are in the pipeline in Italy and Spain. Once the deal is completed, Eni would have an operational renewable portfolio of roughly 2 GW and a project pipeline of approximately 13 GW of wind and solar photovoltaics. Not everything has been smooth sailing, though. In June, due to volatile market conditions, Eni postponed a previously planned flotation of 30% of Plenitude.

Renewable Electricity , Corporate Strategy
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