Eni gas e luce – Plenitude expands its renewable operating capacity and development pipeline in the US

Source: press release, 24 February 2022

Corazon I Solar plant, located in Webb County, Texas
Corazon I Solar plant, located in Webb County, Texas (photo: BaWa r.e.)

Eni gas e luce – Plenitude, through its US-based controlled entity Eni New Energy US Inc, has expanded its portfolio of renewable capacity in the United States through the acquisition of a portfolio of two assets in Texas for additional 466 MW, developed by global renewable energy developer BayWa r.e.

Novis Renewables LLC, the exclusive US-based partnership between Eni New Energy US Inc and Falck Renewables for the developments of solar, wind and storage projects, led the two transactions for Eni New Energy US, Inc.

Eni New Energy US Inc. acquired around 266 MW Corazon I Solar plant, located in Webb County, Texas (US), which is equipped with bifacial PV modules and one axis tracker, and began operations in August 2021. It will produce more than 500 GWh each year, equivalent to eliminating over 250 kt of CO2 emissions annually into the atmosphere.

In the same location, Eni New Energy US Inc also acquired around 200 MW/400 MWh Guajillo storage project, which is in its advanced stage of development and is expected to reach an operational stage before the end of 2023. The Guajillo storage project will use the same interconnection facilities as Corazon I and will support the local network by storing energy when renewable generation is high and delivering it during periods of peak consumption.

Stefano Goberti, CEO of Eni gas e luce – Plenitude, comments, “These transactions mark a huge step forward in the growth of our renewable capacity in the US market, adding two high value assets to our portfolio. The combination of solar plants and utility-scale battery storage is an accelerating new trend that will generate value and support the further penetration of renewable energy into the market. In the US, our capacity installed and under construction has already reached 0.8 GW, meaning that we are well on track to surpass the original goal of 1 GW (0.8 GW Eni gas e luce -Plenitude share) in 2023, set only 2 years ago when we entered this market together with Falck Renewables. This further brings Plenitude closer to its targets of reaching over 6 GW of installed renewable capacity by 2025 and over 15 GW by 2030 globally.”

Jonathan Koch, President of Novis Renewables, says, “We are delighted to have brought our expertise in renewables to delivering this deal which will provide clean solar energy to the residents and businesses of Texas.”