Energy Infrastructure Partners increases its stake in the share capital of Plenitude

Plenitude consolidates its value through a new agreement with Eni and Energy Infrastructure Partners (EIP), a Swiss fund manager investing in megatrends reshaping the energy industry, which increases its stake in Plenitude to 10% of the company’s share capital. This transaction strengthens Plenitude's financial structure and brings new resources to support activities.

The increase in EIP's stake will take place through a capital increase of about 209 million euro, which takes EIP’s total investment to about 800 million euro, including the 588 million euro paid in last March. Completion of the transaction is subject to the issuance of statutory approvals.

The transaction confirms an Equity Value of about 8 billion euro post transaction and an Enterprise Value of more than 10 billion euro.

“I am very pleased with this transaction. EIP's increased investment in Plenitude is another tangible sign of our business model solidity, also appreciated by those who have been able to see us at work for some time now. In recent years, Plenitude has grown through the passion and commitment of its people, achieving and exceeding its strategic goals, as reflected in its results, with EBITDA steadily increasing from around 600 million euro in 2021 to the 1 billion euro expected this year”, said Stefano Goberti, Plenitude CEO.

“Over the course of our first year of partnership with Eni we have been thrilled with Plenitude’s impressive growth trajectory and strong performance. Our decision to increase the size of our investment reconfirms our strong belief in the value of the business, the excellence of Plenitude’s entire organization and leadership team, and the company’s ability to deliver in line with its strategy and business plan”, said Tim Marahrens, EIP partner.

Plenitude operates in more than 15 countries around the world, with a business model that integrates power generation from renewable sources with an installed capacity of over 3 GW, the sale of energy and energy solutions to 10 million customers, and an extensive network of 21,000 charging points for electric vehicles. By 2027, the company aims to reach over 11 million customers, more than 8 GW of renewable capacity and 40,000 charging points installed in Italy and abroad.