Eni’s clean energy subsidiary Plenitude is aiming to increase its installed renewables capacity by almost fourfold to 15GW by 2030.
The targeted growth was unveiled during Eni’s Capital Markets Day presentation.
This pace of growth should see earnings for interest, tax, depreciation and amortisation (EBITDA) almost double by 2028 to €1.9bn and grow further to over €2.5bn by 2030.
Eni CEO Claudio Descalzi said: “2024 was an exceptional year of growth and value creation for Eni, underpinned by our financial framework and our cost discipline.
“Our leading industry position comes from the competitiveness of our asset portfolio and the unique managerial and financial alignment of our satellite model which has unlocked more than €21 bln of enterprise value in the year.”
He added: “Plenitude and Enilive delivered on their EBITDA target despite a challenging commercial backdrop, emphasizing the value of our focused approach to future prospects.
“Operational capacity and throughput growth was outstanding.”