Italian oil and gas company Eni announced that it will acquire three photovoltaic power generation projects in southern Spain with a total installed capacity of 140MW. The company said: It has signed an agreement with Spain’s renewable energy developer X-Elio, and this latest transaction marks the first time Eni Group has invested in renewable energy in Spain. It is expected that from the second half of 2021, the acquisition of the project will be completed.
However, the financial and project details of the entire acquisition plan have been kept secret. According to Eni Group, the two companies are considering a larger-scale strategic cooperation on the development of renewable energy projects in Spain.
Italy’s Eni Group, the full name of the National Hydrocarbon Company (Ente Nazionale ldrocarburi, abbreviated as: ENI), is a national holding company established by the Italian government on February 10, 1953 to ensure domestic oil and natural gas supply. Its predecessor was established in 1926. The Agip Company, the Italian Petroleum Corporation. It is one of the world’s seventh largest oil group companies, and one of the world’s largest multinational oil companies that integrate upstream and downstream operations, and ranks 8th among the world’s largest oil refining companies. In 1992, Eni was restructured from a state-owned enterprise into a joint-stock company. In 2009, the US “Fortune” magazine ranked 17th among the world’s top 500 companies.