Plenitude: Eni’s plans for renewable energy

Plenitude, Eni‘s green energy value chain company, will leverage its competitive business model that integrates renewable energy, customer energy solutions and a widespread electric vehicle (EV) charging network, to deliver consistent profitability.

One of the main actions planned for 2022 is the IPO of Plenitude through the divestment of a minority, maintaining control and total consolidation.

Plenitude will be a financially independent entity that will use the financial markets to finance the renewable generation capacity expansion program, the development of the electric mobility business and the growth of the customer base.

In general, Eni is engaged in the production and sale of energy products and services to world markets, with operations in the traditional businesses of exploration, development, extraction and marketing of crude oil and natural gas, manufacturing and marketing of fuels derived from petroleum and chemicals and gas-based energy, as well as energy products from renewable sources.

Going forward, Eni plans to continue growing its customer base, aiming to reach 11.5 million customers by 2025.

The company also seeks to accelerate the development of installed capacity to produce renewable energy to reach more than 2 GW of installed capacity by 2022 and more than 6 GW by the end of the plan.


Its network of charging points for electric vehicles will be expanded to reach 30,000 points in 2025.

Eni’s Plenitude & Power segment is dedicated to the retail marketing of gas, energy and related services, the production and wholesale marketing of energy produced both by thermoelectric plants and renewable sources, as well as electric mobility services.

In addition, it comprises CO2 emission rights trading activities to help stabilize/hedge the Clean Spark Spread (CSS) of gas-fired power production and power sales trading margin.

As of December 31, 2021, Eni’s customer base exceeded 10 million retail delivery points (gas and electricity) in Europe (of which 7.8 million were in Italy).

In 2021, retail energy sales to end customers, managed by Plenitude and its subsidiaries in France, Greece and Spain, amounted to 16.49 TWh.

Gas retail sales, in Italy and in the European markets, amounted to 7.85 BCM.

Revenues generated by the Plenitude & Power segment (11,187 million euros) increased by 3,651 million euros (+48%) following the increase in raw material prices as a result of the economic recovery, the consolidation of Aldro Energía and the positive evolution of the extra-merchandise business and the increase in the number of customers.

Likewise, in 2021, capital investments in the Plenitude & Power segment amounted to €443 million and were mainly related to: customer acquisition costs in the retail business and the increase in renewable installed capacity (€366 million ); and the power generation business (77 million euros).


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