Eni to sell Plenitude renewable energy unit to Ares for €2 billion


06/23/2025

Italian oil and gas firm Eni SpA has reached an agreement with US investment firm Ares Management Corp. to sell a 20% interest in its Plenitude division, which focuses on low-carbon energy.



As stated in Eni's press release, the agreement amounts to roughly €2 billion, derived from an assessment of Plenitude's total worth of €10 billion.

Plenitude, which concentrates on renewable energy, provides electricity and gas to roughly 10 million consumers in Europe and manages an extensive network of charging stations for electric vehicles.

Previously, 10% of Plenitude was acquired by the Swedish investment firm Energy Infrastructure Partners.

source: reuters.com