The agreement confirms the effectiveness of Plenitude’s distinctive integrated model and strengthens its financial structure, providing additional resources to its growth strategy, while ensuring that Eni retains consolidation and control of the company. Moreover, the deal represents a significant step in the implementation of Eni’s satellite model, aimed at creating the conditions for independent growth of high potential businesses, granting the access to new pools of aligned capital and providing visibility into their fair market value.
Francesco Gattei, Chief Transition & Financial Officer of Eni commented: “This agreement highlights the innovative nature of Plenitude’s business model and its significant growth opportunities. The company is a pillar of our energy transition strategy aimed at reducing emissions related to the use of our products. We have embarked on a virtuous path of creating low and zero-carbon businesses that attract leading investors, grow organically, and become self-sustaining. We believe this is the approach to address the energy transition.”
Closing of the transaction is subject to customary approvals required by law.
Notes to Editors
Energy Infrastructure Partners (EIP) is a Swiss fund manager investing in megatrends reshaping the energy industry.