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Energy Infrastructure Partners to invest up to €700m for 9% share in Plenitude
Transactions - DECEMBER 21, 2023

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Energy Infrastructure Partners to invest up to €700m for 9% share in Plenitude

by Kali Persall

Eni, Plenitude and Energy Infrastructure Partners (EIP) have signed an agreement for EIP to enter Plenitude’s share capital through a capital increase of up to €700 million ($755 million), representing about 9 percent of the company’s share capital.

The parties agreed the initial capital increase amount be €500 million ($539 million), with the option for EIP to go up to €700 million ($755 million) by early 2024.

The transaction implies an equity value of Plenitude post-investment of up to around €8 billion ($9 billion) and an enterprise value of more than €10 billion ($11 billion).

Plenitude’s business model integrates power generation from renewables, the sale of energy and energy solutions, and an extensive network of EV charging points. The company currently supplies energy to approximately 10 million European customers in the retail market, targeting more than 11 million customers by 2026. It also expects to deliver more than 7 gigawatts of i

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