Eni to expand Italian wind capacity with 315MW deal

Italian oil and gas company Eni has agreed to acquire 315MW in operational onshore Italian wind farms from infrastructure investors Glennmont Partners and PGGM Infrastructure Fund. 

The deal is due to significantly bolster its domestic renewables business and bring it a step closer to a 2024 target for 4GW in green energy. 

The portfolio consists of 13 wind farms, which were brought online between 2009 and 2016. They are located in the regions of Sicily, Apulia, Basilicata and Abruzzo, and consist of 256 turbines in total. 

With the acquisition, the company stated it was also taking on a team that would provide continued asset management and further portfolio development. 

Following completion of the deal, Eni’s total wind capacity in its home market will rise to 350MW. It also owns a 35MW wind farm being constructed in Apulia. Eni’s overall installed and under-construction renewable energy capacity will also increase to 1.3GW when the deal is closed. 

According to a 2021-2024 industrial plan presented in February, Eni is targeting 4GW of renewable  capacity in 2024, of which 40% will come from onshore and offshore wind and the remainder from solar. Eni anticipates its renewables capacity will rise to 15GW in 2030 and 60GW in 2050. It also aims to fully integrate renewable power generation within its retail business.  

Eni recently broke into offshore wind with the acquisition of a 20% stake in the 2400MW Dogger Bank A & B Dogger Bank A & B (2400MW) Offshoreoff Yorkshire, UK, Europe Click to see full details and B project, which is currently under construction. Vårgrønn, a Norwegian renewable energy joint venture between Eni and HitecVision, is planning to jointly apply with Equinor to develop floating offshore wind in the Utsira Nord area of the Norwegian North Sea, one of two offshore areas the Norwegian government has earmarked for development. 

Outside of Italy, Eni also has a small presence in onshore wind. It owns the 48MW Badamsha I Badamsha I (48MW) OnshoreBadamsha, Aktobe, Kazakhstan, Asia-Pacific Click to see full details onshore wind farm in Kazakhstan, which came online in 2020 and was the group’s first wind project.  The 48MW Badamsha II Badamsha II (48MW) OnshoreAktobe Province, Kazakhstan, Asia-Pacific Click to see full details project is currently under construction and expected to be completed by the end of the year.