Plenitude has signed an agreement with EDP Renewables North America (EDPR NA) to purchase a 49% stake in an operational solar and storage portfolio totalling 500MW (dc) in California.
Plenitude, through its US subsidiary Eni New Energy US, will acquire shares in the portfolio, which comprises the Sandrini 100 solar plant (141MW dc), the Sandrini 200 solar plant (266MW dc) along with the Sandrini battery plant (368MWh).
The three plants have a total installed capacity of about 499MWdc, of which 245MW (dc) corresponding to Plenitude’s share.
Stefano Goberti, CEO of Plenitude, said: “Through this transaction we position ourselves in the California market, one of the most relevant for the development of renewables, further diversifying Plenitude presence in the United States and confirming our commitment to invest in electric storage systems.
“Thanks to this acquisition we reach a total installed capacity in the country of about 1.7 GW.”
EDPR NA CEO Sandhya Ganapathy said: “Our valued partnership with Plenitude underscores EDPR NA’s commitment to bolstering energy infrastructure throughout North America through the development of additional solar and storage capacity in an effort to create a more reliable and resilient grid.”
Plenitude, a company controlled by Eni, is present in more than 15 countries around the world with a business model that integrates the production of electricity from4 GW of renewable capacity, the sale of energy and energy solutions to 10 million European customers, and an extensive network of nearly 22,000 charging points for electric vehicles.
By 2027, the company aims to reach 8GW of installed renewable capacity globally.
EDPR NA constructs and owns wind farms, solar parks, and energy storage systems for more than 11GW and has developed projects for over 12 GW throughout North America.