Italian energy company expands and increases its presence in Spain

Eni to produce solar power in Spain Credit: Eni

ITALIAN energy company Eni has signed an agreement with X–Elio for the acquisition of three photovoltaic (solar power) projects in southern Spain.

The companies have also entered into discussions for a larger strategic collaboration for the development of renewable projects in Spain, where Eni is aiming to grow its renewable sources.

According to the agreement, the transfer of the projects will be subject to customary authorisation starting from the second quarter of 2021 and Eni will be responsible for the construction of the plants and for the sale of the electricity.

This agreement adds to the other recently signed by Eni gas e luce, a subsidiary of Eni, with Grupo Pitma for the acquisition of 100 per cent of Aldro Energía Y Soluciones S.L., which operates in Spain and Portugal selling electricity, gas and services to household customers as well as large, medium and small businesses.

Moreover, Eni is about to finalise agreement for the amicable settlement of a dispute relating to Union Fenosa Gas, after which it will begin direct supply of natural gas in Spain to the industrial and thermoelectric sectors.

Claudio Descalzi, Chief Executive Officer of Eni, observed; “This initiative greatly reinforces Eni’s presence in the Spanish market with a remarkable investment in the renewable energy sector, and it complements the existing businesses already established in the region.”

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John Smith

Married to Ophelia in Gibraltar in 1978, John has spent much of his life travelling on security print and minting business and visited every continent except Antarctica. Having retired several years ago, the couple moved to their house in Estepona and John became a regular news writer for the EWN Media Group taking particular interest in Finance, Gibraltar and Costa del Sol Social Scene. Share your story with us by emailing [email protected], by calling +34 951 38 61 61 or by messaging our Facebook page www.facebook.com/EuroWeeklyNews

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