(Alliance News) - Eni Spa announced Wednesday that Plenitude, through its subsidiary Eni New Energy US Inc. has signed an agreement with the leading global energy company EDP Renováveis SA to acquire 80 percent of three already operational photovoltaic plants located in the US.

The parks Cattlemen in Texas, Timber Road and Blue Harvest in Ohio have a total installed capacity of about 478 MW, including 382 MW in Plenitude share, are spread over an area of more than 1,500 hectares of land, and will generate more than 800 MWh annual energy from renewable sources.

Stefano Goberti, managing director of Plenitude, said, "This transaction represents Plenitude's entry into the PJM energy market in Ohio, with already operating medium to large size projects, and consolidates the company's presence in Texas. The agreement allows Plenitude to exceed 1.2 GW of installed capacity in the U.S., contributing to the goal of reaching 7 GW in the World by 2026."

Miguel Stilwell d'Andrade, CEO of EDP Renewables, said, "We are pleased to have signed this deal, a clear sign of the quality of our assets and the value added by EDP's expertise. With this deal we have achieved more than 25 percent of the target announced in our asset turnover program for 2023-26. We confirm our commitment to deliver on our business plan with a solid investment in renewable energy and a focus on sustainable growth."

Eni's stock is up 0.2 percent at EUR14.96 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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