Eni's Plenitude Acquires Stakes in Three U.S. Solar Parks
January 10 2024 - 4:02AM
Dow Jones News
By Pierre Bertrand
Eni's Plenitude has signed an agreement with EDP Renovaveis to
purchase an 80% equity stake in a portfolio of three photovoltaic
plants located in the U.S.
The agreement, made through Plenitude's U.S. subsidiary, relates
to the operational Cattlemen solar park in the state of Texas and
the Timber Road and Blue Harvest solar parks in Ohio, Plenitude
said.
The company added that Plenitude's share comes to 272 megawatt
alternating current of the plants' 340 MWac installed capacity.
Plenitude didn't disclose financial details relating to the
acquisition, but EDP Renovaveis last week said that the total
consideration of the transaction for the 80% stake corresponds to
an enterprise value of $400 million.
Write to Pierre Bertrand at pierre.bertrand@wsj.com
(END) Dow Jones Newswires
January 10, 2024 04:47 ET (09:47 GMT)
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