Eni SpA said Tuesday it has entered into an agreement to buy a portfolio of already operational renewable energy projects totaling about 760 megawatts across France from Neoen.
The transaction involves the transfer of 37 solar plants, 14 wind farms and one battery energy storage to Eni’s renewables arm Plenitude. The facilities produce around 1.1 terawatt hours of power annually, Italy’s state-backed Eni said in a press release.
“The transaction represents one of the largest renewable energy deals completed in the French market in recent years and significantly contributes to Plenitude’s 2025 installed capacity targets”, Eni said. The parties have not disclosed the transaction price.
Eni aims to reach over 5.5 gigawatts (GW) of installed renewable generation capacity this year, toward 10 GW by 2028 and 15 GW by 2030, according to a plan it announced February. As of the third quarter of 2025, it had 4.8 GW of installed renewable capacity, according to its quarterly report October 24.
Eni plans to integrate the Neoen assets with its existing assets to “enable optimized operations and synergies”, Tuesday’s statement said.
“The acquisition expands our presence in France, where we already serve around one million retail customers and where we are growing in both energy solutions and e-mobility markets”, said Plenitude chief executive Stefano Goberti. “Through this operation, we strengthen our integrated business model and accelerate progress toward achieving our strategic objectives”.
Plenitude currently serves 10 million households and businesses across Europe, and aims to have over 11 million customers by 2028 and 15 million by 2030, Eni said.
Paris-based Neoen said separately it would “continue to manage the plants for some years through the provision of asset management services to Plenitude”.
Neoen said it would retain 1.1 GW of assets in operation or under construction in France including 754 MW of solar, 307 MW of onshore wind and 115 MW/213 MW hours of battery storage. “The company also has a significant pipeline of projects in development throughout France”, Neoen said.
“By unlocking capital for re-investment, this transaction will contribute significantly to the accelerated pace of Neoen’s growth, including the financing of new assets and the pioneering of innovative energy solutions”, it said.
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