Swiss fund manager Energy Infrastructure Partners (EIP) has agreed to acquire a 9% stake in Eni’s renewables arm, Plenitude.
EIP will invest €500 million into Plenitude’s capital structure, with the option of raising this to up to €700 million by early 2024.
The transaction values Plenitude at more than €10 Billion. Plenitude currently operates nearly 3GW of renewables capacity. By 2026, it intends to more than double this to 7GW, then raise the total to 15GW by 2030.
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