Plenitude: completed increase of EIP's stake in the share capital

Plenitude announces the completion of the transaction – announced last 11 November – relating to the increase by Energy Infrastructure Partners (EIP), a Swiss fund manager investing in megatrends reshaping the energy industry, of its stake in Plenitude’s share capital, thus reaching a 10% stake in the aggregate.

The increase of EIP's stake has taken place through a capital increase of about 209 million euro that, including 588 million euro paid in March 2024, brings the total investment to about 800 million euro.

The transaction confirms an Equity Value of about 8 billion euro post transaction and an Enterprise Value of more than 10 billion euro. The transaction has been approved by the competent authorities.

Stefano Goberti, CEO of Plenitude, commented: “We are pleased to announce the closing of this transaction that further strengthens company's financial solidity. We continue Plenitude’s growth path towards energy transition, thanks to our business model that also in 2024 has proven to be successful and has enabled us to meet and exceed the targets we set”.

“Our increased commitment to Plenitude reflects our confidence in its unique integrated model, which combines renewable generation, retail energy solutions and e-mobility at scale. Over the past year, Plenitude has demonstrated its ability to exceed targets and capitalize on the accelerating energy transition. We look forward to continuing our collaboration with Eni and Plenitude’s outstanding leadership team to drive further growth,” said Tim Marahrens, Partner at EIP.

Plenitude is active in over 15 countries across the world with a business model integrating: the production of electricity from over 4 GW of renewable capacity; the sale of energy and energy solutions to more than 10 million European clients; and an extensive network of over 21,000 electric vehicle charging points. By 2028, the company intends to reach 10 GW of installed renewable capacity and over 11 million clients