Eni reveals 420MW renewables plan

Eni reveals 420MW renewables plan

Italy’s oil and gas giant Eni SpA (BIT:ENI) has announced plans to install over 420MW of renewable energy capacity both in Italy and abroad consisting mainly of solar photovoltaic (PV) plants.

The plan is to build renewable energy facilities in the surrounding area of other company-owned projects, including abandoned industrial areas.

Eni and its subsidiary Syndial SpA will work together to re-establish certain sites under the Progetto Italia initiative.

The firm has formerly identified 400 hectares of land in the regions of Liguria, Sardinia, Sicily, Calabria, Puglia and Basilicata. The company plans to install over 220MW of renewables by 2022 for a total cost of between US$228 million and $285 million.

Progetto Italia will be issued in two phases, one of around 70MW and the other of 150MW. The majority of Eni’s projects will be solar PV, but it also has plans for biomass and concentrated solar power (CSP) projects.

The group proposes to construct a 50MW solar power plant near the Kadanwari gas field in Pakistan and is looking for completion by next year.

Eni also intends to build a 150MW solar park near the Belaiym field in Egypt at the end of 2017. A portion of the electricity produced by that project is to be used in the field and the rest will be generated into the national grid.

@RGNOnline