Eni has signed an agreement to acquire 13 onshore wind farms in Italy from Glennmont Partners and PGGM Infrastructure Fund (PGGM), according to a statement.
The wind farms’ capacity amounts to 315 megawatts (MW) that are already in operation and include 256 wind turbines located in Sicily, Apulia, Basilicata, and Abruzzi regions.
Aside from the farms, Eni will also preserve a highly skilled team that will provide continued asset management and further portfolio development.
Through this acquisition, Eni will have a total installed wind power capacity of 350 MW in Italy, to become one of the leading renewables players in Italy.
“This transaction represents an important step forward for Eni’s renewable energy growth and will enable us to reach 4 GW of installed capacity in 2024, 15 GW in 2030, and 60 GW in 2050 as planned in our strategy. On the one hand, we are growing organically, thanks to the projects that come from our domestic and international partnerships as well as our greenfield developments in upstream countries. On the other hand, we plan to accelerate growth through selective acquisitions, in particular in those countries where we have an existing broad customer base”, said Eni’s CEO, Claudio Descalzi.
“Our renewable energies expansion, which through this transaction has already achieved over 1.3 GW of installed and under construction capacity, will be fully integrated with our retail business, creating a unique player of great value and a high development potential. This transaction demonstrates another significant milestone as Eni continues on its path towards leading the production and sale of decarbonized products”, he added.
As per the statement, BNP Paribas supported Eni as an exclusive financial advisor, while Chiomenti acted as a legal advisor in the acquisition sealing.