Plenitude is a Benefit Corp (Società Benefit) controlled by Eni that integrates 100% renewable energy production, energy sales and services, and an extensive network of electric vehicle charging points
Plenitude signs agreement with EDPR to acquire three photovoltaic parks in the U.S. for a capacity of 272 MWac. (Credit: atimedia from Pixabay)
Plenitude, through its US subsidiary Eni New Energy US Inc., has signed an agreement with global energy leader EDP Renováveis, S.A. (“EDPR”), to purchase an 80% equity stake in a portfolio of operational photovoltaic plants located in the United States.
The Cattlemen (Texas), Timber Road (Ohio), and Blue Harvest (Ohio) solar parks have a total installed capacity of 340 MWac (478 MWdc), of which 272 MWac (382 MWdc) corresponding to Plenitude share, cover an area of more than 1,500 hectares of land, and will generate more than 800 GWh of renewable energy annually.
Stefano Goberti, CEO of Plenitude, said, “This transaction represents Plenitude’s entry into the PJM energy market in Ohio with already operational, medium to large size projects and consolidates the company’s presence in Texas. The agreement allows Plenitude to reach over 1,2 GW of installed capacity in the U.S. contributing to the goal of reaching 7 GW worldwide by 2026.”
“We are pleased to reach this agreement which is a clear sign of the quality of our assets and the added value that EDP’s expertise brings,” stated Miguel Stilwell d’Andrade, CEO of EDP Renewables. “With this transaction, we have executed more than 25% of the target announced for our asset rotation program for 2023-26. We remain committed to delivering our business plan with a solid investment in renewables and focus on sustainable growth”.
Plenitude is a Benefit Corp (Società Benefit) controlled by Eni that integrates 100% renewable energy production, energy sales and services, and an extensive network of electric vehicle charging points. The company currently supplies energy to about 10 million European customers in the retail market with the goal of reaching more than 11 million customers by 2026 and installing more than 30,000 electric mobility charging points. The company currently has an installed capacity from renewable sources of about 3 GW, plans to exceed 15 GW by 2030 and to reach zero net Scope1, 2 and 3 CO2 emissions by 2040.
Source: Company Press Release