Plenitude, operating through its U.S. subsidiary Eni New Energy US Inc., has inked an agreement with global energy leader EDP Renováveis, S.A. (EDPR) to acquire an 80% equity stake in a portfolio of operational photovoltaic plants situated in the United States.
The solar parks—Cattlemen in Texas, Timber Road in Ohio, and Blue Harvest in Ohio—boast a combined installed capacity of 340 MWac (478 MWdc), with 272 MWac (382 MWdc) attributed to Plenitude’s share. Spanning over 1,500 hectares of land, these facilities are expected to generate more than 800 GWh of renewable energy annually.
Stefano Goberti, CEO of Plenitude, remarked, “This transaction represents Plenitude’s entry into the PJM1 energy market in Ohio with already operational, medium to large size projects and consolidates the company’s presence in Texas. The agreement allows Plenitude to reach over 1.2 GW of installed capacity in the U.S., contributing to the goal of reaching 7 GW worldwide by 2026.”
Miguel Stilwell d’Andrade, CEO of EDP Renewables, expressed satisfaction, stating, “We are pleased to reach this agreement which is a clear sign of the quality of our assets and the added value that EDP’s expertise brings. With this transaction, we have executed more than 25% of the target announced for our asset rotation program for 2023-26. We remain committed to delivering our business plan with a solid investment in renewables and focus on sustainable growth.”
Plenitude, a Benefit Corp controlled by Eni, integrates 100% renewable energy production, energy sales and services, and an extensive network of electric vehicle charging points. The company aims to surpass 15 GW of installed capacity by 2030 and achieve zero net Scope 1, 2, and 3 CO2 emissions by 2040.
EDP Renewables, a global leader in renewable energy development, operates in 28 regions worldwide and focuses on onshore wind, solar, offshore wind, storage, and green hydrogen technologies.
Discover more from SolarQuarter
Subscribe to get the latest posts sent to your email.
