Neoen, an independent producer of exclusively renewable electricity, has signed an agreement with Plenitude, a subsidiary of Italian energy group Eni, for the sale of a portfolio of operational assets with a total installed capacity of 760 megawatts (MW) in France. The deal includes 52 facilities comprising 37 solar power plants, 14 onshore wind farms and one battery storage unit.
The agreement also stipulates that Neoen will continue to manage the facilities for several years under an asset management contract with Plenitude. The transaction amount has not been disclosed. Completion is expected by year-end, subject to standard regulatory approvals.
A strategic refocus by Neoen
Following the transaction, Neoen will retain a 1.1 gigawatt (GW) portfolio in operation or under construction in France, including 754 MW of solar, 307 MW of onshore wind and 115 MW / 213 megawatt-hours (MWh) of battery storage capacity. The company also maintains a significant pipeline of development projects across the country.
This divestment is part of Neoen’s stated strategy of regularly and selectively selling assets to release capital for reinvestment in new projects. The objective is to support the acceleration of its development both in France and internationally.
Plenitude expands its footprint in the French market
The acquisition marks a major step for Plenitude, which already serves around 1 million residential customers in France and is pursuing growth in the energy efficiency and e-mobility sectors. The acquired portfolio will strengthen the company’s integrated business model and accelerate the achievement of its growth targets.
Under the terms of the agreement, Neoen will continue liaising with local stakeholders and ensure the operational continuity of the facilities, consolidating its role as a large-scale developer, builder and operator of energy projects. With nearly 2 GW already delivered in France, the company reaffirms its position as a leading independent player in the market.
