Plenitude acquires PLT and strengthens its position in Italy

Plenitude signs an agreement to acquire PLT, an Italian group producing electricity from renewable energy sources.

Increase in capacity

With this agreement Plenitude acquires PLT Energia Srl and SEF Srl and their respective subsidiaries and affiliates. Thus, the company strengthens its presence in Italy and Spain. Indeed, the company is consolidating a vertically integrated platform.

This platform includes about 400MW of assets in Italy, of which 80% are operational. In addition, 20% are under construction with a planned start-up by 2024. Moreover, of the 400MW, more than 80% comes from wind energy.

The acquisition also includes 1.2GW of projects under development in Italy and Spain. Plenitude announces that 60% are in an advanced stage of maturity. As a result, Plenitude’s pipeline of renewable energy projects will grow to a total of approximately 13GW.

A synergy in renewable energy

Plenitude also integrates 90.000 private customers in Italy. The company also benefits from a team of 150 people with many years of experience in wind and photovoltaic technologies. Stefano Goberti, CEO of Plenitude, states:

“This agreement marks a significant step forward in achieving our goals. We are acquiring a platform with high value-added projects and expertise, which is in line with Plenitude’s business model and will allow us to strengthen the company’s growth in Italy and abroad. This acquisition will allow us to exceed 2 GW of net installed capacity and, in line with the targets announced to the market, we expect to reach more than 6 GW by 2025. Such growth supported by a 13 GW pipeline of solar and wind projects and strategic and synergistic agreements like the one we are announcing today.”

Plenitude is Eni’s Benefit Corporation that integrates the production of energy from 100% renewable sources. In addition, it includes the sale of energy services and an extensive network of charging stations for electric vehicles. The company currently supplies energy to approximately 10 million European customers in the retail market.

The company aims to reach more than 11 million customers by 2025. Plenitude also aims to install more than 30,000 charging stations for electric mobility. Finally, the company also plans to exceed 15GW of installed capacity by 2030 and achieve carbon neutrality by 2040.