Italian oil major Eni, through its Gas e Luce subsidiary, has further expanded its renewables footprint with the acquisition of a Greek solar player with a pipeline of projects totalling about 800 megawatts. - UpstreamOnline

Eni confirmed last week its Gas e Luce subsidiary, which will be rebranded Plenitude later this year, had acquired Solar Konzept Greece (SKGR) from Solar Konzept International, which is majority owned by Aquila Capital.

SKGR owns a photovoltaic plants’ development platform in Greece and Eni confirmed the company had roughly 800MW of projects in the pipeline at “various stages of development”.

This will add to Gas e Luce’s existing portfolio of renewable capacity, which at the end of 2021 stood at 1.2 gigawatts.

The company has a target to install over 6GW of renewable capacity by 2025 and more than 30GW by 2030.

The acquisition of SKGR also marks Eni’s first entry into the Greek renewable electricity generation market.

It comes as Eni has been rapidly expanding its renewables portfolio in recent years as it targets net zero emissions by 2050 and for its installed renewable energy capacity to reach 60GW by the same date.