Eni Next, a subsidiary of Italian energy giant Eni S.p.A, and Azimut, a leading Italian asset management company, have announced a strategic partnership to launch a EUR100 million venture capital fund to support innovative startups in the energy sector, focusing on technologies that promote sustainability and the transition to cleaner energy.
Why it matters: This collaboration reflects a growing trend among large corporations to actively invest in renewable energy and sustainability initiatives, as the world grapples with the challenges of climate change and the need for clean technology becomes increasingly important.
The details:
- The joint venture will leverage the expertise and resources of both companies to identify and nurture high-potential startups.
- The fund aims to provide not only capital but also strategic guidance to accelerate the development and commercialization of cutting-edge technologies.
- The EUR100 million fund will start inviting applications from startups later this year.
- Selected companies will benefit from funding, access to a network of industry experts, potential partners, and markets.
What they’re saying:
- “The creation of this venture capital fund is a crucial step towards fostering innovation in the energy sector,” said a spokesperson for Eni Next. “Our goal is to support startups that have the potential to make significant contributions to sustainability and the energy transition.”
- “By combining our financial expertise with Eni’s deep industry knowledge, we are well-positioned to drive meaningful progress in the energy sector,” noted Azimut.
What’s next: Both Eni Next and Azimut have a strong track record in their respective fields, and this new venture is poised to create significant opportunities for innovation and growth in the energy sector.
Plenitude, the renewable energy development arm of Italian oil and gas major Eni, has started operations at the northern block of its Renopool photovoltaic plant in Solana de los Barros, Badajoz, Spain. The block has an installed capacity of 130 MW and is part of a larger 330 MW project expected to be completed by the end of 2025.
Why it matters: This marks a significant milestone in Plenitude’s renewable energy strategy in Spain, contributing to the region’s environment and economy while aiding the country’s energy transition.
The details:
- The Renopool project comprises seven photovoltaic plants distributed across two blocks.
- The operational northern block includes three plants expected to generate over 265 GWh of electricity annually.
- Plenitude has implemented measures to promote native fauna conservation and long-term ecological initiatives.
- Driven by progress in Extremadura, Castilla y León, and Andalusia, Plenitude has achieved an installed capacity of approximately 1,300 MW in Spain.
“The connection of the first block of Renopool to the grid marks an important step in our renewables business development strategy in Spain. The Renopool project will be our largest solar plant installation, contributing positively to the region’s environment and economy and aiding Spain in its energy transition,” stated Mariangiola Mollicone, Head of Renewables in Western Europe and Managing Director of Eni Plenitude Renewables Spain.
What’s next: Plenitude is developing projects across various renewable technologies to deliver over 2 GW of future installed capacity, aiming to achieve 10 GW of installed renewable capacity and over 11 million customers globally by 2028.