Eni acquires 1.2 GW portfolio in Spain, France

Italian oil-and-gas major Eni has acquired the Dhamma Energy Group which holds platform for the development of solar plants in both France and Spain, which adds up to 230 MW of wind and some 1,000 MW of solar energy capacity.

“This transaction will help to boost our renewable power generation capacity in accordance with our growth strategy by continuing to expand in Spain and especially by launching our presence in the renewables sector in France, where Eni gas e luce already has a solid presence and a significant customer base. For Eni gas e luce, France and Spain are pivotal markets in which the company will increasingly enhance its value through the integration between retail and renewables”, said Claudio Descalzi, CEO of Eni, in a statement

The Madrid based equity manager, Azora Capital,  said in a statement that the wind power capacity is split between three operational onshore wind farms and one project under construction. Meanwhile for solar energy, the portfolio has 1 gigawatt of solar capacity from five large-scale projects in advanced stages of development.

This transaction remains  subject to the achievement of the customary authorisations.