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    ENI   IT0003132476

ENI S.P.A.

(ENI)
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Eni, Sonangol JV Moves Forward on Angola Photovoltaic Project

12/06/2021 | 06:48am EST

By Olivia Bugault

Eni SpA said Monday that plans to build the Caraculo photovoltaic plant in Angola are progressing, with a final investment decision reached by Solenova, its joint venture with Angolan national oil company Sonangol.

The signing of an engineering, procurement and construction contract by Solenova is for the first phase of the solar power plant whose construction should start next year, the Italian oil-and-gas company said.

Capacity at the plant will increase in phases. In its first phase, the plant will have a capacity of 25 megawatts-peak, with an ultimate total capacity of 50 megawatts-peak.

"The Caraculo photovoltaic plant will be an important source of electrical power in the Namibe province, from a renewable resource, and will allow the reduction of diesel consumption for electricity generation, thus reducing the emission of greenhouse gases (GHG) and contributing to Angola's energy transition," it said.

Write to Olivia Bugault at olivia.bugault@wsj.com

(END) Dow Jones Newswires

12-06-21 0647ET

Stocks mentioned in the article
ChangeLast1st jan.
ENI S.P.A. 0.44% 13.27 Delayed Quote.8.12%
WTI 1.15% 85.12 Delayed Quote.8.53%
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Financials
Sales 2021 71 153 M 80 556 M 80 556 M
Net income 2021 3 863 M 4 374 M 4 374 M
Net Debt 2021 16 515 M 18 698 M 18 698 M
P/E ratio 2021 12,1x
Yield 2021 6,49%
Capitalization 46 750 M 52 974 M 52 928 M
EV / Sales 2021 0,89x
EV / Sales 2022 0,79x
Nbr of Employees 31 495
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Number of Analysts 26
Last Close Price 13,21 €
Average target price 14,47 €
Spread / Average Target 9,53%
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Managers and Directors
Claudio Descalzi COO-Exploration & Production Division
Francesco Gattei Chief Financial Officer
Lucia Calvosa Chairman
Francesca Zarri Director-Technology, Digital, R&D
Giuseppe Ricci Deputy Chief Operating Officer
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