Italy’s energy group Eni has signed a power purchase agreement (PPA) worth over US$1bn with Commonwealth Fusion Systems (CFS), securing electricity from the first 400 MW ARC fusion power plant, to be built in Chesterfield County, Virginia (United States). Grid connection is expected in the early 2030s, though no detailed timeline has been released. This marks the second offtake agreement signed for the ARC project in just three months, following a similar PPA with Google in June 2025 for 200 MW, with terms undisclosed.
CFS is developing the ARC plant (short for “Affordable, Robust, Compact) as a fusion facility designed for standard grid integration and baseload generation. The company aims to demonstrate the technical viability of fusion by 2027 and to commission its first commercial fusion power plant before the end of the decade. In 2023, Eni and CFS signed a Collaboration Framework Agreement to exchange expertise, methodologies, and industry networks. In August 2025, CFS raised US$863m from investors including Nvidia and Morgan Stanley, bringing total funding close to US$3bn. Eni, a shareholder in CFS since 2018, increased its stake during this funding round. The newly raised funds will support the completion of the SPARC experimental reactor and the development of the ARC facility. Specific terms of the agreement, including pricing and contract duration, have not been disclosed.
Interested in Power Plants?
Enerdata has developed a market research service to screen, monitor and analyse the development of power generation assets.
Power Plant Tracker offers an interactive database and a powerful search engine covering power plants worldwide – including both installed and planned capacities for renewables and fossil fuels.