Eni company announced that it has achieved excellent results in its business of producing and selling decarbonized products during 2020 driven by a 17% increase in the Earnings Before Interest and taxes (EBIT) of its subsidiary Eni Gas e Luce as well as a 130% increase in bio-refining processing, a press release reported.
The company added that the installation of 1 gigawatt of new solar and wind generation capacity, also, supported these results. Eni noted that it managed to prove its robustness and flexibility of its business model despite the extraordinary crisis of COVID- 19 pandemic during 2020.
Eni announced its strategy of fully decarbonize its all products and processes by 2050 through merging its retail and renewable business. The company is looking forward to reduce net carbon emissions to 25% by 2030 and 65% by 2040. It, also, targets net zero carbon intensity of -15% by 2020 and -40% by 2040.
The company elaborated that the merge of its retail and renewable business will accelerate the growth of its customer base to 15 million customers and increase renewable installed capacity to 15GW by 2030.