Italian oil major Eni, through its Gas e Luce subsidiary, signed deals to expand its portfolio of wind and solar projects in France and Spain, the company announced Monday.
The company agreed to buy Madrid-based Dhamma Energy Group from its original partners in Madrid, although no purchase price was specified.
Dhamma’s asset portfolio comprises a pipeline of projects at various stages of development of almost 3 gigawatts (GW) in both countries, including plants already in operation or in advanced development in France of around 120 megawatts, Eni said.
The operation is part of Eni’s plan for the expansion of renewable power generation capacity and its integration in the retail activities in the French and Spanish markets.
“This transaction will help to boost our renewable power generation capacity in accordance with our growth strategy by continuing to expand in Spain and especially by launching our presence in the renewables sector in France, where Eni gas e luce already has a solid presence and a significant customer base,” Claudio Descalzi, CEO of Eni, was quoted as saying in the statement.
The purchase of the Dhamma Energy Group came as the Italian oil major also signed another deal with Azora Capital for the acquisition of a portfolio of nine renewable energy projects in Spain.
The operation involves the acquisition of three wind farms in service and a wind farm under construction in the central and northern area of the country, for a total capacity of 230 MW, and five large solar projects in advanced development for around 1 GW.
By Sibel Morrow