BAKU, Azerbaijan, September 22. Eni and Commonwealth Fusion Systems (CFS) have expanded their strategic partnership with a power purchase agreement (PPA) worth over $1 billion, under which Eni will acquire decarbonized power from CFS’s 400 MW ARC fusion plant in Chesterfield County, Virginia, Trend reports.
According to Eni, the plant is expected to connect to the grid in the early 2030s.
“This agreement demonstrates the value of fusion energy on the grid and reflects Eni’s long-standing support for our technology,” said CFS CEO Bob Mumgaard. Eni CEO Claudio Descalzi called the deal a turning point for commercial fusion, highlighting its potential as a clean, safe, and virtually limitless energy source.
Eni has been a strategic shareholder in CFS since 2018 and increased its investment in the company during CFS’ recent $863 million Series B2 round. The collaboration includes technological support, operational guidance, and knowledge sharing to accelerate fusion energy development.
CFS has made significant advances in high-temperature superconducting magnets and is progressing with the SPARC fusion demonstration machine in Massachusetts, validating its path toward commercial fusion power.