Eni Acquires Greek Solar Company

Italy’s Eni Touts 800 MW Greek Solar Portfolio With Solar Konzept International Acquisition

Eni Acquires Greek Solar Company

Present in Greek gas and electricity market through Eni gas e luce, Eni has now entered the country’s solar market with Solar Konzept Greece acquisition. (Photo Credit: Eni)

  • Eni has acquired Solar Konzept Greece from Aquila Capital owned Solar Konzept International
  • The acquisition brings to Eni a portfolio of around 800 MW that’s at various stages of development
  • It has made the transaction through Eni gas e luce that’s to be rebranded as Plentitude this year

Oil and gas multinational from Italy, Eni is expanding its geographical footprint in renewable energy to Greece with the acquisition of Solar Konzept Greece (SKGR) that comes to the group with a portfolio of around 800 MW, currently at various stages of development.

Eni has acquired SKGR from Solar Konzept International whose majority owner is investment and asset developer Aquila Capital of Germany. For Eni, the 800 MW portfolio forms the basis for further development in Greece as it pursues the strategy to become carbon neutral by 2050.

The Italian group has made the acquisition through Eni gas e luce that has been operating in the gas and electricity business country since 2000, with close to 500,000 customers. Eni said it will grow renewable energy capacity together with vertically integrated activities in the power retail business with this acquisition as it aims to produce and sell decarbonized products.

Last summer, Eni gas et Luce took  over the Spanish and French solar power portfolio from Spanish solar PV project developer Dhamma Energy (see italy’s Eni Expands Spanish & French Solar Portfolio). This expansion of its portfolio in these 2 markets came after it had acquired 3 solar power projects with 140 MW combined capacity in Spain from X-Elio, in February 2021 (see Italian Oil Firm To Acquire 140 MW Solar In Spain).

Eni gas e luce is to be renamed as Plentitude which will become Eni’s new renewables and electric vehicle (EV) arm this year with a target to install over 6 GW renewable capacity by 2025, increasing from 1.2 GW now, and scale it up to 15 GW by 2030 (see Eni Launches Renewables Energy Platform).

About The Author

Anu Bhambhani

Anu Bhambhani is the Senior News Editor of TaiyangNews

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