Latest news with #Plenitude
Belfast Telegraph
07-07-2025
- Entertainment
- Belfast Telegraph
My Money: ‘I spent a quarter of my pension lump sum on a Waldorf Astoria suite and a 1988 bottle of Lafite Rothschild'
When Thomas McCarthy attended University College Cork in the 1970s, he was among a group of young poets who were part of a literary revival at the university under the tutelage of John Montague. McCarthy's collections include Mr Dineen's Careful Parade, The Sorrow Garden and Merchant Prince. He lives in Cork city, where he has worked as a librarian for 30 years. The poet will read from his new collection, Plenitude, at 5pm on July 18 at Bantry Library, as part of the West Cork Literary Festival.
Yahoo
04-07-2025
- Business
- Yahoo
Plenitude begins construction of 200MW PV project in Andalusia, Spain
Plenitude, a company controlled by Eni, has commenced construction of its latest renewable energy venture, the 200MW Entrenúcleos solar project, located across Dos Hermanas and Coria del Río in Seville (Andalusia), with an expected operational date of 2026. The inauguration ceremony saw attendance by representatives from the Energy Department of the Regional Ministry for Industry, Energy and Mining of the Government of Andalusia, as well as officials from the Dos Hermanas Town Council. Entrenúcleos solar park consists of four plants: Granville, Killington, Plumlee and Rickwood. The park will feature 326,000 solar panels over more than 300 hectares. Each plant will have a capacity of 50 megawatts peak and they will collectively produce more than 435 gigawatt hours annually once fully operational. The plants will be connected to the grid through the Entrenúcleos SET substation, which will be shared with another developer. This substation will then be connected to the national grid through the Red Eléctrica Española (REE) substation situated in Dos Hermanas. Spanish company Solarig has been contracted to construct this solar park. "Green steel" - recycled material with a zero-carbon footprint produced entirely within Spain - will be utilised for testing purposes during its development phase. Plenitude Renewables Spain head of renewables in Western Europe and managing director Mariangiola Mollicone stated: 'Entrenúcleos is a landmark project for Plenitude — not only because it contributes to our growth objectives in Spain, but also because it reflects our deep and ongoing commitment to Andalusia, a region that plays a key role in the country's renewable energy landscape. 'With this project, we now have a portfolio of around 580MW under construction in the region, and we look forward to continuing to invest in sustainable energy solutions that bring long-term value to local communities.' This project represents Plenitude's third major investment underway in Andalusia alongside two other plants - Guillena at 230MW and Caparacena at 150MW. With 1.3GW already installed across Spanish regions including Extremadura, Galicia and Catalonia, Plenitude continues its expansion strategy by developing additional projects totalling more than 2GW at different stages throughout the country. Government of Andalusia's Regional Ministry for Industry, Energy and Mining's Energy Department General Secretary Manuel Larrasa stated: "Renewable energies are the oil that Andalusia never had; they are a golden opportunity for the economic and industrial growth of our land. 'Europe is in the process of decarbonising its industry and this is where Andalusia, with its wealth of natural resources (sun, wind and biomass), has an undisputed leading role. Our key differentiator is our greater availability of reliable energy at competitive prices.' "Plenitude begins construction of 200MW PV project in Andalusia, Spain" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
24-06-2025
- Business
- Reuters
Italian utility ACEA to sell energy arm to Eni's Plenitude for 588.5 million euros
June 24 (Reuters) - Italian utility ACEA ( opens new tab has approved a binding offer from Eni's ( opens new tab retail and renewables business Plenitude to acquire its energy retail arm ACEA Energia in a deal worth 588.5 million euros ($682 million), it said on Tuesday. The offer includes a 50% stake in Umbria Energy, a local energy company, and excludes some ACEA business lines such as energy efficiency and electric mobility. Under the agreement, ACEA could receive an additional 100 million euros if certain performance targets are met by mid-2027. Transaction is expected to close by June 2026, pending regulatory approvals, including antitrust and so-called "golden power" clearance. The latter gives the Italian government the option to block or modify deals in sectors considered strategic for national interests. "This transaction, consistent with ACEA's strategy outlined in the 2024-2028 Business Plan, will enhance the Group's position as infrastructure operator, offering the opportunity to reinvest the proceeds of the sale for further development in the businesses," said ACEA's CEO Fabrizio Palermo. ($1 = 0.8629 euros)
Yahoo
24-06-2025
- Business
- Yahoo
Ares acquires 20% stake in Eni's Plenitude for €2bn
Ares Management Alternative Credit funds, affiliates of the alternative investment manager Ares Management, have agreed with Eni to acquire a 20% interest in Eni's subsidiary, Plenitude, for €2bn ($2.3bn). The deal is based on an equity valuation of €10bn and implies an enterprise value exceeding €12bn. The transaction enhances Plenitude's market value, confirming the strength of its business model, which combines renewable energy generation, energy sales and services for homes and businesses, and charging solutions for electric vehicles. Ares' investment in Plenitude follows Energy Infrastructure Partners, which owns a 10% stake in the company. Plenitude CEO Stefano Goberti stated: 'I am pleased to welcome Ares, one of the world's leading investment funds, as a new shareholder in Plenitude. The deal is a further endorsement of the quality of our strategic approach, which combines economic and environmental sustainability in an integrated business model projected on the future of the energy sector.' The transaction will close upon receiving standard regulatory approvals. Plenitude operates in more than 15 countries globally, employing a business model that integrates more than 4GW of renewable energy production alongside retail and energy solutions. The company caters to more than ten million customers and oversees a network of 21,500 electric vehicle charging points. By 2028, Plenitude aims to achieve 10GW of installed renewable capacity while expanding its customer reach beyond 11 million. Ares European Alternative Credit partner and co-head Joel Holsinger stated: 'This transaction underscores the strength of the Ares platform, which leverages experience across its diversified businesses, including asset-based finance and renewables infrastructure, to deliver flexible capital at scale. 'We are excited to support Plenitude as the company executes its growth strategy focused on enduring profitability and positive community impact.' In October 2024, Plenitude commenced the construction of a 220MW solar power plant in Spain. The plant features 365,300 advanced bifacial solar panels and will produce more than 400 gigawatt hours annually. "Ares acquires 20% stake in Eni's Plenitude for €2bn" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
23-06-2025
- Business
- Yahoo
Eni Sells 20% Stake in Plenitude to Ares in 2 Billion Euro Deal
Italian energy major Eni S.p.A. E has signed a landmark agreement to sell a 20% stake in its multi-energy unit Plenitude to Ares Management Alternative Credit funds for approximately €2 billion. According to the company, the deal values Plenitude at €10 billion on an equity basis and over €12 billion in enterprise value, marking a milestone in Eni's strategy to unlock value from its satellite businesses. The transaction, still subject to regulatory approvals, introduces Ares as the second major external investor in Plenitude, following the earlier 10% acquisition by Energy Infrastructure Partners. Ares Management Corporation ARES is a globally recognized alternative investment firm with around $546 billion in assets under management as of March 31, 2025. Plenitude operates in more than 15 countries, combining over 4 GW of renewable power generation, energy retail, and EV charging infrastructure. It currently serves more than 10 million customers and manages 21,500 EV charging points across Europe. By 2028, it aims to ramp up renewable capacity to 10 GW and expand its customer base beyond 11 million. Plenitude CEO Stefano Goberti views the transaction as a strong validation of the company's integrated strategy, which balances economic performance with environmental sustainability and positions it for long-term relevance in the evolving energy sector. Stefano Questa, partner and co-head of European Alternative Credit at Ares, emphasized Plenitude's leading role in the energy transition, highlighting its unique business model and consistent record of growth and profitability. The deal forms part of Eni's broader strategy to scale and partially monetize its high-growth, low-carbon businesses through its satellite model, which aims to attract long-term partners while supporting decarbonization goals. Francesco Gattei, Eni's Chief Transition & Financial Officer, highlighted that the agreement reflects the strong market confidence in Plenitude's business model and marks the addition of a major international partner to support the company's next phase of growth. The proceeds from the stake sale are expected to support Eni's continued investments in energy transition while enhancing Plenitude's financial flexibility for global expansion. E currently carries a Zack Rank #4 (Sell). Investors interested in the energy sector may look at a couple of better-ranked stocks like Subsea 7 S.A. SUBCY and Oceaneering International, Inc. OII. Subsea 7 presently sports a Zacks Rank #1 (Strong Buy), while Oceaneering International carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks here. Subsea 7 helps build underwater oil and gas fields. It is a top player in the Oil and Gas Equipment and Services market, which is expected to grow as oil and gas production moves further offshore. The Zacks Consensus Estimate for SUBCY's 2025 EPS is pegged at $1.31. The company has a Value Score of A. Oceaneering International delivers integrated technology solutions across all stages of the offshore oilfield lifecycle. With a geographically diverse asset portfolio and a balanced revenue mix between domestic and international operations, the company effectively mitigates risk. As a leading provider of offshore equipment and technology solutions to the energy sector, OII benefits from strong relationships with top-tier customers, ensuring revenue visibility and business stability. The Zacks Consensus Estimate for OII's 2025 EPS is pegged at $1.79. The company has a Value Score of B. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Eni SpA (E) : Free Stock Analysis Report Oceaneering International, Inc. (OII) : Free Stock Analysis Report Subsea 7 SA (SUBCY) : Free Stock Analysis Report Ares Management Corporation (ARES) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
