The new 2023-2027 business plan of GreenIT (51% owned by Eni’s Plenitude) has been approved by the company’s Board of Directors and the financial support needed for its implementation has been approved by the shareholders.

The funds are designated for a number of the plan’s strategic areas of intervention, including the development and construction of greenfield offshore and onshore plants, the execution of previously authorised projects, and the end-of-life repowering of operational plants with the aim of enhancing and extending their production capacity.

To meet GreenIT target of 1,000 MW of installed capacity by 2027 to accelerate Italy’s energy transition, the company plans to invest a total of 1.7 billion euro ( including the capital already invested) in Italy by 2027.

Stefano Goberti, CEO of Plenitude, commented: “We see a great opportunity in renewable energy, both for Plenitude and for our country. This is why we have chosen to invest in GreenIT, a company we established in 2021 together with CDP Equity. Its strategy will contribute to the energy transition path undertaken by Eni and to Plenitude’s ambitious goals of achieving an installed capacity from renewable sources of more than 7GW by 2026”.

CDP Equity CEO and CDP Investment Director Francesco Mele explained that: “The Cassa Depositi e Prestiti Group’s commitment to the renewable energy sector is unstinting and our support for the new Business Plan and GreenIT’s development projects is proof of this. Promoting the growth of renewables in Italy, by making a significant contribution towards a low-carbon future, is one of the CDP Group’s priorities”.

Established in 2021, GreenIT is an Italian joint venture, 51% owned by Plenitude (Eni) and 49% by CDP Equity (CDP Group). It specializes in the production of electricity from renewable sources,