Eni, all Plenitude renewable plans
Plenitude is born, the Eni company that integrates renewables, retail and electric mobility. The new company, led by Stefano Goberti, will be listed on the stock exchange in 2022 and will go on the market between 20% and 30% of the capital
Eni names the subsidiary "Plenitude" which will supply 15 million consumers with "decarbonised energy" from 2030, 20 years before the parent company.
And it confirms the listing of its retail sales branch of renewable energy, of which in 2022 it wants to place on the stock market "between 20 and 30% of free float", with a value that, given the recent increases seen on energy prices, will probably exceed the 10 billion already estimated by operators.
FROM ENI GAS & LUCE TO PLENITUDE
For the marketing experts who changed the new name to Eni Gas & Luce (to which renewables were added months ago), Plenitude indicates «fullness, abundance, adequacy in quantity, measure». Concepts to represent the integrated and diversified proposal of the new brand, also in the approach to sustainability.
INVESTMENTS IN RENEWABLES
Plenitude aims at growth guided by an average annual investment plan of 1.8 billion euros in the period 2022-2025, mainly focused on renewable activities that will attract over 80% of total expenditure.
The allocation of the cash is also aimed at considering the remuneration of shareholders, while maintaining the necessary flexibility to accelerate investments in growth.
PAYMENT OF THE DIVIDEND
On the dividend "we will be more specific at a later date", said Goberti, "let's think about an allocation of liquidity for the distribution" of a dividend "with the aim of maintaining the necessary flexibility to accelerate investments", recalling that Plenitude aims to be “financially independent from Eni”.
THE NUMBERS OF PLENITUDE
Among the sustainability objectives is the commitment to reach the net zero emissions target by 2040, providing 100% decarbonised energy to all customers.
THE CAPACITY OF PLENITUDE
For renewables, the target is over 6 GW of renewable installed capacity by 2025, supported by a pipeline of well-identified projects, to then reach over 15 GW of installed capacity by 2030.
THE CUSTOMERS OF PLENITUDE
In retail, Plenitude aims to 11.5 million customers by 2025 and over 15 million by 2030 will sell electricity with net zero CO2 emissions by 2030, and gas with zero net CO2 emissions by 2040.
THE CHARGING POINTS
As for electric mobility, Plenitude is currently the second largest operator in Italy with around 6,500 charging points. The network will be expanded with a rapid growth plan in Europe, reaching over 31,000 charging points by 2030.
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/energia/eni-plenitude-rinnovabili/ on Tue, 23 Nov 2021 08:08:15 +0000.