Plenitude, through its subsidiary Eni New Energy US Inc., has signed an agreement with the global leader in the energy sector EDP Renováveis, S.A. (“EDPR”) for the acquisition of 80% of three already operational photovoltaic plants located in the United States.
The Cattlemen (Texas), Timber Road (Ohio) and Blue Harvest (Ohio) parks have a total installed capacity of approximately 478 MW, of which 382 MW at Plenitude level, are spread over an area of over 1.500 hectares of land and they will generate over 800 MWh of energy from renewable sources annually.
Stefano Goberti, CEO of Plenitude, stated: “This operation represents Plenitude's entry into the PJM1 energy market in Ohio with medium-large sized projects already operational and consolidates the Company's presence in Texas. The agreement allows Plenitude to exceed 1.2 GW of installed capacity in the United States, contributing to the goal of reaching 7 GW worldwide by 2026."
Miguel Stilwell d'Andrade, CEO of EDP Renewables, said: “We are delighted to have signed this agreement, a clear sign of the quality of our assets and the added value brought by EDP's expertise. With this operation we have achieved more than 25% of the objective announced in our asset rotation program for the period 2023-26. We confirm our commitment to realizing our business plan with a solid investment in renewable energy and a focus on sustainable growth."
Plenitude is a Benefit Company controlled by Eni that integrates the production of energy 100% from renewable sources, the sale of energy and energy services and a large network of charging points for electric vehicles. The company currently supplies energy to approximately 10 million European customers in the retail market with the aim of reaching more than 2026 million customers by 11 and installing over 30.000 charging points for electric mobility. The Company, which currently has an installed capacity from renewable sources of approximately 3 GW, also expects to exceed 15 GW by 2030 and to eliminate net Scope 2, 1 and 2 CO3 emissions by 2040.
EDP Renewables (Euronext: EDPR) is a leading global renewable energy developer present in 28 regions of Europe, North America, South America and Asia-Pacific. Headquartered in Madrid and with regional offices in Houston, Sao Paulo and Singapore, EDPR has a strong portfolio of world-class assets under development and market-leading operational capability in the renewable energy sector, with a focus on onshore wind, distributed and large-scale solar, offshore wind (OW – through a 50/50 joint venture) and technologies complementary to renewables, such as storage and green hydrogen.
EDPR is a division of EDP (Euronext: EDP), a leader in the energy transition with a particular focus on decarbonisation. In addition to being present in the renewable energy sector (with EDPR and in the hydroelectric sector), EDP also operates in the field of utilities in Portugal, Spain and Brazil through electricity networks, customer solutions and energy management.
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