The new Eni has renewables at the centre of its strategy and aims to reach an installed capacity of 55 GW by 2050. Starting from 0.2 GW in 2019, we divided our path by precise milestones in our Long-Term Strategic Plan for 2050. Our growing commitment to green energies is also part of the transformation we have been going through since 2014, and helps bring us closer to a broader goal, that of reaching net carbon neutrality by 2040 for all our Scope 1 and Scope 2 businesses. In practice, that means eliminating or compensating for greenhouse gas emissions due directly to our assets (Scope 1) and due to consumption of electricity, heat and steam that we buy from other companies (Scope 2).
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Working with Falck Renewables for renewables in the USA
In December 2019 we signed a strategic agreement with Falck Renewables to develop joint renewable energy projects in the United States. This has given us both a unique platform on which to put our respective skills to use in various technical fields. Our common goal is developing, building and financing new projects in solar photovoltaic, onshore wind and storage. In August 2020 this collaboration was enriched by a further agreement for the acquisition of 62 MW of running wind and solar plants and up to 160 MW of wind projects under construction in the United States. Once all these plants are up and running they will help offset over 93,000 tonnes of CO2 a year. An additional 30 MW solar project will be acquired through an agreement signed in November 2020. Once in operation, the plant will provide green energy to a regional utility that will distribute it to households and industries, avoiding over 33,000 tons of CO₂ per year.
Our commitment to the UN Sustainable Development Goals
Our story is inevitably bound up with hydrocarbons, but this doesn’t stop us from making a commitment to produce clean energy now and in the future, and we have made significant investments in this area. The UN’s Sustainable Development Goal 7, included in its 2030 agenda, commits us all to guaranteeing universal access to affordable and clean energy. This is a fundamental goal in itself but also forms the basis for achieving the other goals on the agenda. To help achieve a low-carbon future, in 2015 Eni set up a new business unit called Energy Solutions. The unit’s head reports directly to the CEO and is responsible for developing the company’s renewable energy business and overseeing the creation and management of energy plants and sales around the world. In 2019, the 100% owned subsidiary of Eni SpA, Eni Gas e Luce, also acquired the Evolvere company, becoming leader in distributed generation of renewable energy from photovoltaic plants in Italy.
High-level partnerships with the countries in which we operate
Our commitment to renewable energy complements our traditional business, and with each year we become more efficient, creating value and taking advantage of synergies. We have defined a business model for developing renewables founded on distinctive competitive advantages. These include being able to leverage Eni’s global presence and diverse portfolio of industrial assets, as well as its long track record of research and development, which is strengthened by our partnerships with respected universities such as MIT and the polytechnic universities of Milan and Turin.
We have a wide experience of creating new processes and products, which is particularly important when it comes to renewables. We are also well placed to find the right kind of finance for each project, whatever its location, so that we can fully exploit the sun and wind wherever we operate. Just look at our significant development of renewables in Algeria, a country that has always been important for hydrocarbons and for Eni, to see how successful this model can be.
While most of our projects outside of Italy are in Africa, we also operate in Pakistan, Kazakhstan and Australia. The challenge of supplying cost-effective, clean energy across an entire nation is more complex in the world’s poorer and more vulnerable countries, where access to clean energy is up to six times lower than in more industrialised countries, according to data from the United Nations.
Our history and profile are linked to hydrocarbons, but we have come a long way. In 2014, we produced 65 million tonnes of CO₂ with oil and gas; in 2019, we reduced this to 38 million.
Two main project categories
Our integrated model has two main project categories:
- Brownfield projects are renewable energy production projects in close proximity to Eni plants and aim to exploit all possible contractual, logistical and industrial synergies.
- Greenfield projects are new projects unconnected to Eni industrial sites that generate renewable energy for sale to industrial customers or the local grid.
Energy Solutions – a world of clean energy
Energy Solutions develops and builds photovoltaic, wind and hybrid plants with gas and energy storage. In 2017, we set up Eni New Energy S.p.A, the first Energy Solutions subsidiary, to operate in the Italian market as the first construction sites were opening elsewhere in the world. This was followed by Eni New Energy Egypt, by the acquisition of Armwind (Kazakhstan) in 2018, and the creation of New Energy Pakistan and Société Energies Renouvelables ETAP-Eni (Tunisia) in early 2019. These companies, and future ones like them, will be responsible for creating and operating the renewable energy plants developed by Energy Solutions for their respective countries. In the meantime, new initiatives have been identified, to ensure that as part of the 2020-2023 Action Plan the electricity generated will reach an installed capacity of 3 GW in 2023, expected to increase to 5 GW in 2025. Eni has proven itself ahead of its time when it comes to the hybridisation of renewable and traditional systems at the industrial sites in which it operates.
Eni renewables around the world
Some of the main results we achieved at the beginning of 2020.
capacity of the photovoltaic plant launched in Porto Torres
capacity of the wind farm launched in Kazakhstan
work sites for Batchelor and Manton projects in Australia
Eni’s installed capacity in US
Read also on projects
Selected contents on this issue.
Discover also on renewables
A selection of in-depth content.