Eni: Eni enters the Greek photovoltaic market and acquires Solar Konzept Greece

Eni, through Eni gas e luce, which will become Plenitude this year, has acquired the Greek company Solar Konzept Greece (“SKGR”) from Solar Konzept International which is majority owned by Aquila Capital, a sustainable investment and asset development company, based in Hamburg, Germany. SKGR owns a photovoltaic plants’ development platform in Greece. SKGR’s portfolio includes a pipeline of projects at various stages of development, totalling around 800 MW. These projects form the basis for further development in the country.

Eni gas e luce has been operating in the Greek retail energy market since 2000 and now has around 500,000 customers. The deal marks Eni’s entry into the Greek renewable electricity generation market and is part of its plan to grow renewable capacity together with vertically integrated activities in the power retail business. This transaction is aligned to the company’s broader mission to become a leader in the production and sale of decarbonised products.

As of the end of 2021, Eni gas e luce has a 1.2 GW portfolio of renewable capacity in operation, with a target to install over 6 GW by 2025 and over 15 GW by 2030.