Plenitude, the renewable energy subsidiary of Italy’s oil and gas group Eni, has agreed to acquire a 100% stake the Italian wind and solar developer PLT, which serves about 90,000 retail customers in Italy. PLT owns a 1.6 GW renewable capacity portfolio in Italy and Spain (over 80% of which are wind parks), including 400 MW of operational and under construction assets in Italy (80% already operational, 20% under construction and due to start up by 2024) and 1.2 GW of projects under development Italy and Spain, 60% of which are at advanced maturity stage. With this acquisition, Plenitude’s pipeline of renewable energy projects is set to reach a total of about 13 GW, with 2 GW of capacity is already installed. Plenitude expects its net installed capacity to increase to 6 GW by 2025. Plenitude and Eni have not yet provided financial details for deal.
In September 2022, Plenitude also entered in a partnership with the Italian power producer Infrastrutture to develop 1.5 GW of wind and solar projects in Italy and Spain, by acquiring a 65% stake in the group Hergo Renewables, a company that holds a portfolio of projects in the two countries.
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