Plenitude is born, the Eni company that integrates renewables, retail and electric mobility

by time news – Plenitude is born, the Eni company that integrates renewables, retail and electric mobility. The new company, led by Stefano Goberti, will be listed on the stock exchange in 2022 and will go on the market between 20% and 30% of the capital.

“The Plenitude IPO is a cornerstone of our decarbonization strategy and a fundamental step in the ongoing transformation of Eni “, commented the CEO Claudio Descalzi explaining that the operation represents” the first step in the creation of an industrial and financial entity aimed at reducing Scope 3 CO2 emissions (indirect ones due to the company’s activity, ed) , and is part of our broader commitment to create value through the energy transition “.

“The energy transition is above all a technological challenge”, highlighted Eni’s CEO, “Eni’s development and rapid implementation of proprietary technologies has created a competitive advantage in our sector. This company will attract new capital, free up value and accelerate the energy transition”.

For the CEO of Plenitude, Stefano Goberti, the new company represents “the outpost of Eni’s decarbonisation strategy“.” Plenitude’s business model will enable us to generate value in an increasingly competitive market, to grow, to provide decarbonised products to our customers and to reduce Scope 3 CO2 emissions to zero by 2040, “he added.

Eni’s CEO Claudio Descalzi

Investments focused on renewables

Plenitude aims for growth driven by an average annual investment plan of 1.8 billion euros over the period 2022-2025, mainly focused on renewable activities that will attract over 80% of the total expenditure.
The allocation of the cash is also aimed at considering the remuneration of shareholders, while maintaining the necessary flexibility to accelerate investments in growth.

Dividend payment possible

On the dividend “we will be more specific at a later time”, said Goberti, “we think of an allocation of liquidity for the distribution” of a dividend “with the aim of maintaining the necessary flexibility to accelerate investments”, recalling that Plenitude aims to be “financially independent from Eni”.

100% decarbonised energy by 2040

Among the sustainability objectives is the commitment to reach the net zero emissions target by 2040, providing 100% decarbonised energy to all customers.

15 GW renewable capacity by 2030

For renewables, the target is over 6 GW of renewable installed capacity by 2025, supported by a pipeline of well-identified projects, to then reach over 15 GW of installed capacity by 2030.

Over 15 million customers by 2030

In retail, Plenitude aims to 11.5 million customers by 2025 and over 15 million by 2030 will sell electricity with net zero CO2 emissions by 2030, and gas with zero net CO2 emissions by 2040.

31,000 charging points

As for electric mobility, Plenitude is currently the second largest operator in Italy with around 6,500 charging points. The network will be expanded with a rapid growth plan in Europe, reaching over 31,000 charging points by 2030.


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