Eni’s clean energy subsidiary, Plenitude, is setting an ambitious goal to expand its installed renewable energy capacity nearly fourfold to 15 gigawatts (GW) by 2030. The target was announced during Eni’s Capital Markets Day presentation, where the company outlined its plans for growth in the renewable sector.
The company expects this accelerated expansion to significantly boost earnings, with EBITDA projected to nearly double by 2028, reaching €1.9 billion, and surpass €2.5 billion by 2030.
Eni CEO Claudio Descalzi noted, “2024 was an exceptional year of growth and value creation for Eni, underpinned by our financial framework and our cost discipline.” He further emphasized, “Our leading industry position comes from the competitiveness of our asset portfolio and the unique managerial and financial alignment of our satellite model which has unlocked more than €21 billion of enterprise value in the year.”
Descalzi also highlighted the performance of Plenitude and Enilive, the company’s renewable energy and digital services divisions. “Plenitude and Enilive delivered on their EBITDA target despite a challenging commercial backdrop, emphasizing the value of our focused approach to future prospects,” he added. “Operational capacity and throughput growth was outstanding.”
Eni’s ambitious renewable energy expansion is seen as a key part of its strategy to diversify its energy portfolio and contribute to the global transition to cleaner energy sources.
