Plenitude Expands U.S. Renewable Capacity With New Acquisition In California

2025-01-18 08:09:24

(MENAFN- Trend News Agency) BAKU, Azerbaijan, January 18. Plenitude, through its U.S. subsidiary Eni New energy US Inc., has reached an agreement to acquire a 49% stake in a portfolio of solar and energy storage assets in California from EDP Renewables North America LLC (EDPR NA). The portfolio includes the Sandrini 100 and Sandrini 200 solar farms, as well as the Sandrini Battery Energy Storage System (BESS) currently under construction.

The Sandrini 100 (100MWac) and Sandrini 200 (200MWac) solar plants, together with the Sandrini BESS (368MWh), share a grid connection and have a combined capacity of 499MWdc. Plenitude's share of this total capacity will be 245MWdc.

Stefano Goberti, CEO of Plenitude, emphasized that this acquisition strengthens the company's position in California, a key market for renewable energy development. He noted that it also aligns with Plenitude's goal to invest in energy storage systems and expands their U.S. renewable capacity to 1.7GW.

“We're proud to partner with Plenitude to enhance energy infrastructure across North America, advancing our mission to support a more resilient grid,” said Sandhya Ganapathy, CEO of EDPR NA.

The deal is pending regulatory approval. Plenitude, a subsidiary of Eni, has a global renewable energy portfolio with 4GW of installed capacity and plans to expand this to 8GW by 2027. EDPR NA, part of EDP Renewables, operates over 11GW of wind, solar, and storage assets across North America.

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