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Eni and X–Elio sign agreement for Spanish solar projects

Published by , Assistant Editor
Energy Global,


Eni has signed an agreement with X–Elio for the acquisition of three photovoltaic (PV) projects in southern Spain for a total capacity of 140 MW.

Eni and X-Elio have also entered into discussions for a larger strategic collaboration for the development of renewable projects in Spain, where Eni is aiming to grow up to 1 GW in the next five years contributing to the 5 GW installed capacity from renewable sources target for 2025.

X-Elio is an energy developer with significant presence in Spain, where it has developed and built more than 1 GW. The firm has currently 250 MW under construction in the country, over 650 MW through PPAs (Power Purchase Agreement) and over 1.5 GW under development.

According to the agreement, the transfer of the projects will be subject to customary authorisation starting from the second semester of 2021. Eni will be responsible for the construction of the plants and for the electricity commercialisation.

Claudio Descalzi, Chief Executive Officer of Eni, has stated: “This initiative greatly reinforces Eni’s presence in the Spanish market with a remarkable investment in the renewable energy sector, and it complements the existing businesses already established in the region. The development of PV projects is consistent with our strategy in support of the energy transition and is a key element of Eni’s commitment in reducing CO2 emissions. Furthermore, this acquisition allows for the future deployment of existing synergies with the power and gas retail business”.

This agreement adds to the other recently signed by Eni gas e luce, 100% subsidiary of Eni, with Grupo Pitma for the acquisition of 100% of Aldro Energía Y Soluciones S.L., that operates in Spain and Portugal selling electricity, gas and services to household customers as well as large, medium and small businesses.

 

 

For more news and technical articles from the global renewable industry read our latest issue of Energy Global magazine.

Energy Global’s Winter 2020 issue

The Winter issue of Energy Global provides a range of technical articles covering technological advancements and future outlooks in the renewables sector, from companies including CorPower Ocean, Rystad Energy, Black & Veatch, Voltalia, FUERGY, and more.

Read the article online at: https://www.energyglobal.com/solar/24022021/eni-and-xelio-sign-agreement-for-spanish-solar-projects/

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