ERM, the world’s largest pure play sustainability consultancy, has advised Plenitude, an Eni controlled company integrating the production of renewables, the sale of energy services and a large network of electric vehicle charging points, on its agreement to acquire PLT, an integrated Italian group that produces electricity from renewables and supplies energy to 90,000 retail customers.
ERM’s team supported Plenitude with the environmental, health and safety (EHS) due diligence on PLT’s wind and solar portfolios.
By acquiring 100% of PLT, Plenitude will strengthen its presence in Italy and Spain and boost its renewable capacity portfolio by adding over 400 MW (>80% wind power) of assets in Italy. Of these projects, 80% are already operational and 20% are under construction with start-up expected by 2024.
The acquisition will also provide Plenitude with 1.2 GW of projects under development (>80% wind power) in Italy and Spain, 60% of which are at an advanced stage. As a result, Plenitude’s pipeline of renewable energy projects is expanding to approximately 13 GW. The company plans to exceed 15 GW of installed capacity by 2030.
Paola Bertolini, Partner at ERM said: “ERM was delighted to advise Plenitude on this transaction, which marks a major milestone in its journey to become one of the largest renewable energy operators in Italy. We look forward to working together to support the energy transition in Italy and worldwide.”
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