Eni, Plenitude and Energy Infrastructure Partners (EIP) have completed the agreement, announced last November, for the increase by EIP of its stake in Plenitude through a capital increase of approximately €209 million. The overall stake of EIP, post-transaction, corresponds to 10% of Plenitude’s share capital, for an aggregate investment of around €800 million, including the €588 million paid in March 2024.

The transaction confirms a post-money equity value of Plenitude of around €8 billion and an enterprise value of over €10 billion. The transaction has been approved by the competent authorities.

Francesco Gattei, Chief Transition & Financial Officer of Eni, commented: 
“EIP's increased investment demonstrates that Eni has built Plenitude into a company with a strongly distinctive and high-potential business model, which is creating value and has excellent growth prospects. We are thus successfully continuing our path of enhancing and developing businesses related to the energy transition.”

Plenitude is active in over 15 countries across the world with a business model integrating: the production of electricity from over 4 GW of renewable capacity; the sale of energy and energy solutions to more than 10 million European clients; and an extensive network of over 21,000 electric vehicle charging points. By 2028, the company intends to reach 10 GW of installed renewable capacity and over 11 million clients.

KeyFacts Energy: Acquisitions & Mergers news