A Plenitude photovoltaic system at Saipem's Fano offices

Saipem and Plenitude sign an agreement to install photovoltaic system able to meet almost all energy needs of Saipem's Fano offices

Milan, November 23, 2023 - Plenitude (Eni) and Saipem have signed an agreement to install a photovoltaic system with a capacity of about 1 MW_p at Saipem's offices in Fano, Italy. The system estimated solar power generation capacity will amount to over 1,000 MWh annually, able to meet almost all the energy needs of Saipem’s premises while improving its energy efficiency and overall sustainability.

According to the agreement, the photovoltaic panel installation will be carried out, financed and guaranteed by Plenitude, while Saipem will provide a fixed consideration for 10 years for the electricity supplied by the system, ensuring a more efficient cost control over its energy needs. The agreement also encompasses the management, routine and extraordinary maintenance of the system, as well as the development of a continuous performance monitoring system. At the end of the contract period, Saipem will become the owner of the system.

Pasquale Cuzzola, Retail Italian Market Director at Plenitude, commented: "This agreement, which is part of a broader collaboration project between the two companies, is in line with Plenitude’s strategy to create value through the energy transition and to achieve net zero Scope 1, 2 and 3 CO2 emissions by 2040. We are pleased to make our distributed generation solutions available to Saipem's Fano offices through a technologically advanced system that will enable a more efficient and sustainable use of energy while providing certainty over the costs incurred."

Massimilano Branchi, Chief People, Hseq and Sustainability Officer at Saipem, stated: "The collaboration with Plenitude has a special significance because it concerns the long-standing premises in Fano and is tangible proof of our commitment to meet the objectives of our Sustainability Plan. By improving energy efficiency and sourcing self-generated energy from renewable sources, we aim to reduce our emissions first and foremost. Our plan is to achieve Net Zero by 2050 for Scope 1, 2 and 3 emissions, to achieve Carbon Neutrality of Scope 2 emissions by 2025, and a 50% reduction of Scope 1 and 2 emissions by 2035."

About Plenitude

Plenitude is a Benefit Corporation (Società Benefit) integrating the production of energy from 100% renewable sources, the sale of energy services and an extensive network of charging points for electric vehicles. The company provides energy to around 10 million European clients within the retail market with the aim of reaching a further 11 million clients by 2026. The company aims to reach a further 7 GW of installed capacity by 2026 and 15 GW by 2030. In the electric mobility sector, it owns a network of over 18,000 charging points that will be expanded to Italy and a growing number of European countries with the aim of reaching 30,000 points by 2026.

About Saipem

Saipem is a global leader in the engineering and construction of major projects for the energy and infrastructure sectors, both offshore and onshore. Saipem is “One Company” organized into five business lines - Asset Based Services, Energy Carriers, Offshore Wind, Sustainable Infrastructures, Robotics & Industrialized Solutions. The company has 8 fabrication yards and an offshore fleet of 23 construction vessels (of which 21 owned and 2 owned by third parties and managed by Saipem) and 15 drilling rigs, of which 8 owned. Always oriented towards technological innovation, the company’s purpose is “Engineering for a sustainable future”. As such Saipem is committed to supporting its clients on the energy transition pathway towards Net Zero, with increasingly digital means, technologies and processes geared for environmental sustainability. Listed on the Milan Stock Exchange, it is present in more than 50 countries around the world and employs about 30,000 people of over 120 nationalities.