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More sustainable and more competitive

Integrating the renewables business with the retail business of Eni gas e luce allows us to progressively increase our services, infrastructure and green energy offering for our customers.

Aiming for zero emissions and a more resilient business

The integration of retail and renewables aims to further strengthen the company's internal synergies and, at the same time, maximise value generation. Our business model includes a carbon-neutral pathway based on an approach that considers emissions generated throughout the life cycle of energy products and actions that will lead to the full decarbonization of processes and products by 2050.

The development of power generation capacity from renewable sources such as solar, wind and wave motion plays a key role in our Long Term Strategic Plan whereby we commit to the ambitious goal of reaching 15 GW of installed renewable capacity by 2030 and 60 GW by 2050, with over 20 million retail supply contracts in the same year thanks to a decarbonized product offering taken from our portfolio and including renewables and biomethane, as well as new-generation services.

How the domestic energy supply is changing

The road to decarbonization has multiple lanes and several possible routes. Eni wants to offer its customers products that are increasingly sustainable and decarbonized. With the new combined set-up, Eni gas e luce customers will have access to renewable energy sourced directly from our photovoltaic and wind plants that are already operational or in the process of being built. We currently have almost 10 million customers in 6 different countries in Europe, namely Italy, France, Greece, Slovenia and, as of 2021, Spain and Portugal. Our entry into the Iberian market with the acquisition of Aldro Energía for the supply of gas and electricity and three photovoltaic projects, with a total capacity of 140 MW, represents the first step in our international development strategy that focuses on integration and synergy between the retail and renewable energy businesses.

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Eni becomes one of Europe's leading green operators

We have decided to integrate the renewable energy business with the retail business of Eni gas e luce within the new Energy Evolution business unit to further maximise value generation along the entire green energy chain and support our Scope 3 decarbonization targets for emissions produced both upstream and downstream of our activities. This will enable us to more efficiently supply our customers with renewable energy that we have produced ourselves. This new organisational setup makes us one of the leading green retail players in the European market, with 15 million customers and 15 GW of installed capacity by 2030.

With this in mind, the 2021-2024 Plan provides for the following:

 

  • The achievement of 5 GW of installed capacity by 2024
  • Growth in our customer portfolio to over 11 million by 2024, including through international expansion, with entry into the Iberian market
  • The focus on extra-commodity services and maximising value linked to the energy transition
  • Maximising power results thanks to the flexibility and efficiency of generation plants and targeted investments
  • The identification and development of new low-carbon technological solutions
  • Investments of €4.3bn for these businesses in the plan

 

The new business unit will be further developed over the course of 2022, subject to market conditions. The new company’s industrial and financial plan envisages several options, such as listing on the stock exchange through an initial public offering (IPO), sale or exchange of a minority share.