Eni acquires Fri-El Biogas Holding and strengthens itself in renewable production

by time news

Time.news – Eni, through Ecofuel, the Eni company appointed to manage investments in the circular economy, and Fri-El Green Power, the holding company of the Gostner family, leader in the sectors of electricity production from renewable sources, have reached an agreement for the acquisition of the company by Eni Fri-El Biogas Holding, Italian leader in the biogas production sector.

Fri-El Biogas Holding owns 21 plants for the generation of electricity from biogas and a plant for the treatment of Forsu – the organic fraction of municipal solid waste – which Eni intends to convert to the production of biomethane, with the aim of introducing over 50 million cubic meters per year into the network when fully operational.

With this acquisition, Eni strengthens its growth in the circular economy, laying the foundations for becoming the first producer of bio-methane in Italy. The operation is part of Eni’s broader decarbonisation strategy, which envisages the goal of total abatement of emissions from industrial processes and products by 2050, and represents one of the levers for rapid growth in renewable production in order to available to its customers a growing share of green and bio products (liquid biofuels and bio-methane), and integrates with the increase of Eni service stations that will supply CNG (Compressed Natural Gas) and Lng (Liquefied Natural Gas) on the Italian network.

“With this operation we have laid the foundations for strong growth in the biomethane sector, which will be distributed in Eni service stations, both as compressed natural gas and as liquefied natural gas”, said Claudio Descalzi., CEO of Eni commenting on the acquisition. “A business area – said Descalzi – strategic for us in the path of complete reduction of our emissions and a significant contribution to the decarbonisation of transport and the offer of sustainable products to our customers. The path we have outlined in our strategy continues with a new and important element of concreteness “.

The agreement is subject to certain conditions precedent, including the authorization of the competent Antitrust authorities.

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