The Italian energy group Eni has approved the launch of a process for an initial public offering (IPO) and listing of shares in Eni’s newly merged Gas & Power retail and renewables business ("Eni R&R"). The IPO is expected to help Eni grow its Retail and Renewables business; Eni R&R will be financially independent, allowing to access debt at competitive costs. Eni R&R aims to develop more than 6 GW of renewable power capacity by 2025 and more than 15 GW by 2030, with its retail customer base growing from the current 10 million customers to over 15 million by 2030. It also targets a strong growth in its electric vehicle charging point fleet, from the current 5,000 points to more than 30,000 by 2030.
In addition, Eni Gas e Luce has completed the acquisition of a solar project portfolio in France and Spain from the Dhamma Energy Group. Dhamma’s asset portfolio comprises a pipeline of projects at various stages of development of almost 3 GW in both countries, including 120 MW of operational solar plants in France and 400 MW in advanced development. The transaction was signed in July 2021.