Plenitude, Eni’s renewable energy division, is investing in Italy and Spain by joining forces with Infrastrutture S.p.A. A new partnership to develop 1.5 GW of wind and photovoltaic projects in Spain and Italy. Two countries where the renewable market seems to be accelerating.
Develop the renewable portfolio
Last June, Eni announced the listing of a renewable energy and retail division. Called Plenitude, its objective is to free up new resources to be allocated to the energy transition.
It intends to develop a renewable energy production capacity of over 6 GW by 2025 and over 15 GW by 2030. A strategy confirmed by Stefano Goberti, CEO of Plenitude:
“The development of the wind and PV sectors is key to our growth strategy, which aims to reach more than 2 GW of installed capacity from renewable sources by the end of 2022, increasing to more than 6 GW by 2025 and more than 15 GW by 2030.”
In order to achieve its ambitions, Plenitude continues to expand in Italy and Spain. It has just acquired a 65% stake in Hergo Renewables S.P.A., a company that holds a portfolio of projects in these two countries with a total capacity of about 1.5 GW.
Stefano Goberti, said in particular:
“With this partnership, we add an important development platform to our portfolio to strengthen our ability to produce energy from renewable sources for our customers across Italy and Spain.”
The first project, a photovoltaic plant in Montalto di Castro (VT), is scheduled for the second half of 2023.
In Italy and Spain, the transition is accelerating
This operation is intended to contribute to the gradual decarbonization of the electricity sector in Italy and Spain. Two countries where the energy transition is accelerating.
In fact, in line with European objectives, Italy has made significant progress on the renewable energy front. By 2014, the country had already surpassed the UN’s 2030 targets. However, there is still a long way to go to achieve the European objectives. The country must be able to produce 10 GW per year over the next eight years.
During climate week, in parallel to the UN General Assembly, the non-governmental organization Climate Group released a report on the G20 energy transition goals.
Spain, with the highest score, was praised for having one of the most ambitious policies at the European level. A policy in which Pier Francesco Rimbotti, CEO of Infrastrutture S.p.A. is pleased to participate:
“We are pleased to consolidate our contribution to the deployment of quality renewable projects, an effective measure in the fight against climate change and a tool for sustainable supply diversification.”
In particular, the country has significantly increased its production capacity over the past ten years.
