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San Donato Milanese (Milan), 14 March 2022 – Eni, a global energy company, and Sixth Street, a leading global investment firm, today announced they have reached an agreement for Sixth Street to acquire a 49% stake in Enipower.
Enipower is the second-largest producer of electricity in Italy, with six gas plants and a total power capacity of approximately five gigawatts (GW). Enipower is the first industrial steam co-generator and among the top operators in Italy’s network of providers needed to guarantee the functioning of the country’s electric systems.
“The deal is part of Eni's strategy to enhance our assets and free up new resources for the energy transition,” commented Francesco Gattei, Eni’s Chief Financial Officer. “We are pleased to establish this long-term partnership with Sixth Street, an internationally recognized institutional investor specialized in infrastructure investments.”
Sixth Street’s Infrastructure team focuses on creating long-term solutions for companies across the global infrastructure sector. Sixth Street forms capital partnerships at scale with institutions operating infrastructure, energy transmission, and renewable assets and has invested in over 6GW of renewable power since its founding.
“The global energy transition requires creative, long-term solutions, and we are pleased to be partnering with Eni as it efficiently executes its energy transition strategy,” said Richard Sberlati, Partner at Sixth Street. “This transaction is an example of the partnership approach we take to creating institutional solutions for multi-national companies in Europe and North America, drawing on our platform’s deep capabilities for investing in energy production, transmission, and renewable transitions.”
Eni will retain control of Enipower in terms of operations as well as over the financial consolidation of the company.
The agreement is subject to conditions precedent, including those pertaining to the relevant government authorities.
About Eni
Eni is an integrated energy company with over 30,000 employees in 68 countries around the world. Its activities range from the development of new energy solutions to the more traditional exploration and production of hydrocarbons, the refining and marketing of oil products and biofuels; from the generation and commercialization of electricity to the production of renewable energy; from the development of chemical and bio-based products to environmental activities. Eni’s decarbonization strategy aims to reach net zero by 2050. Eni aims at contributing to the achievement of the Sustainable Development Goals (SDGs) of the United Nations’ 2030 Agenda, supporting a just energy transition, which responds with concrete and economically sustainable solutions to the challenge of climate change by promoting access to energy resources in an efficient and sustainable way, for all.
About Sixth Street
Founded in 2009, Sixth Street is a global investment firm with over $60 billion in assets under management. The firm uses its long-term flexible capital, data-enabled capabilities, and One Team culture to develop themes and offer solutions to companies across all stages of growth. Sixth Street’s global infrastructure team finances, acquires, and forms joint ventures for infrastructure-related assets. Sixth Street has more than 350 team members including over 180 investment professionals operating around the world. For more information, visit our website or follow us on LinkedIn or Twitter @SixthStreetNews.
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EnergIA (ener'dʒia) is a system based on Generative Artificial Intelligence.
Thanks to this technology, we can respond to your requests by querying the most relevant content and documents available on eni.com. (Note: financial documents from the last 12 months and press releases from the last 2 years are considered.)
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Like all systems that leverage Generative Artificial Intelligence, EnergIA may generate inaccurate or outdated responses. Always consult the sources that EnergIA proposes as the origin of the generated information.
If the system fails to find an exact match for the requested content, it still tends to provide a response.
If you find any inaccuracies in the provided response, please send us your feedback at the bottom of the page: it will be very helpful for us to improve.
Remember that the content generated by the system does not represent Eni’s official position. We therefore invite stakeholders to refer to their designated contacts for official statements: Press Office for journalists, Investor Relations for analysts and investors, Company Secretariat for shareholders etc..
EnergIA can understand questions posed in almost all languages, but we prefer to provide you with a response in English or Italian, the two languages available on eni.com. If you ask a question in Italian, the content on the site in Italian will be consulted. If you ask it in English or any other language, the content in English will be consulted. (Note: the language Eni uses for financial documents/content is predominantly English.)
If questions are formulated that violate the set security criteria, the system will not proceed with processing the response. Please remember not to send personal data.
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EnergIA (ener'dʒia) is a system based on Generative Artificial Intelligence.
Thanks to this technology, we can respond to your requests by querying the most relevant content and documents available on eni.com. (Note: financial documents from the last 12 months and press releases from the last 2 years are considered.)
Through EnergIA, you can delve into topics of interest and have a real-time window into the world of Eni.
If you wish to search for a specific document, press release or news, use the traditional search engine via the magnifying glass icon.
Like all systems that leverage Generative Artificial Intelligence, EnergIA may generate inaccurate or outdated responses. Always consult the sources that EnergIA proposes as the origin of the generated information.
If the system fails to find an exact match for the requested content, it still tends to provide a response.
If you find any inaccuracies in the provided response, please send us your feedback at the bottom of the page: it will be very helpful for us to improve.
Remember that the content generated by the system does not represent Eni’s official position. We therefore invite stakeholders to refer to their designated contacts for official statements: Press Office for journalists, Investor Relations for analysts and investors, Company Secretariat for shareholders etc..
EnergIA can understand questions posed in almost all languages, but we prefer to provide you with a response in English or Italian, the two languages available on eni.com. If you ask a question in Italian, the content on the site in Italian will be consulted. If you ask it in English or any other language, the content in English will be consulted. (Note: the language Eni uses for financial documents/content is predominantly English.)
If questions are formulated that violate the set security criteria, the system will not proceed with processing the response. Please remember not to send personal data.
By using this service, the users acknowledge that they have read and accepted the terms and conditions of use.
A new window into Eni’s world, at your disposal. EnergIA is an innovative tool based on artificial intelligence capabilities, which can help you navigate the contents of eni.com, quickly finding answers to your questions.