BAKU, Azerbaijan, May 8. Eni’s Plenitude has announced strong growth in its renewable energy operations for 2024, reporting a 17% year-on-year increase in green power generation, Trend reports.
According to the company’s latest results, energy production from renewable sources reached 4.7 terawatt-hours (TWh), up from 3.98 TWh in 2023, driven by a combination of new project completions and strategic acquisitions.
The company attributes this robust performance to the commissioning of organically developed assets in key markets including the U.S., Spain, the UK, and Italy, alongside targeted acquisitions in Spain, Germany, and the U.S.
Notably, the year-end signing of two photovoltaic plants in the U.S., contributing an additional 199 megawatts (MW) of capacity, marked a significant milestone in Plenitude’s expansion strategy.
Installed renewable capacity surged to 4.09 gigawatts (GW) as of December 31, 2024, up 37% from 2.99 GW at the end of 2023 — an increase of 1.1 GW.
Breaking down the figures, photovoltaic energy saw the most pronounced growth, with production jumping 46% to 2.54 TWh in 2024 from 1.74 TWh a year earlier. Wind power, meanwhile, accounted for 2.12 TWh, a modest 5% decrease year-on-year. Geographically, production outside Italy experienced a significant boost, rising 31% to 3.22 TWh, while production within Italy declined slightly by 6% to 1.44 TWh.
In terms of installed capacity by technology, photovoltaics (including installed storage) represented 71% of the total by the end of 2024, up from 64% in 2023. Wind accounted for 29%, down from 36% the previous year — a shift that underscores Plenitude’s growing emphasis on solar investments in its renewable portfolio.
