Eni to acquire three photovoltaic projects from X–Elio.

Eni, an Italian multinational oil and gas company, agreed to acquire three photovoltaic projects in southern Spain with a capacity of 140 MW from X–Elio, a provider of renewable energy services. Financial terms were not disclosed. ”This initiative greatly reinforces Eni’s presence in the Spanish market with a remarkable investment in the renewable energy sector, and it complements the existing businesses already established in the region. The development of photovoltaic projects is consistent with our strategy in support of the energy transition and is a key element of Eni’s commitment in reducing CO2 emissions. Furthermore, this acquisition allows for the future deployment of existing synergies with the power & gas retail business,” Claudio Descalzi, Eni Chief Executive Officer.