Eni launched Plenitude in 2021 as a cornerstone of its decarbonization strategy. Operating as an Italian benefit corporation (Società Benefit) incorporating the goal of profit with the purpose of creating a positive impact for society and the environment, Plenitude’s business model combines renewable energy generation assets, retail services for homes and businesses and charging points for electric vehicles into a diversified platform spanning the entire energy value chain.
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 4 gigawatts, the sale of energy and energy solutions to 10 million customers and an extensive network of 22,000 charging points for electric vehicles.1 By 2027, the company aims to reach over 11 million customers, more than 8 gigawatts of renewable capacity and 40,000 charging points installed in Italy and abroad.2
Strong growth prospect
Plenitude aims to double its EBITDA by 2026, supported by a robust pipeline exceeding 20 gigawatts, spread across diverse technologies and regions. The existing infrastructure could scale renewable energy production to over 8 gigawatts by 2027 and further to over 15 gigawatts by 2030.
Diversification across renewable energy technologies and geographies
Investing primarily in wind and solar power technologies, Plenitude demonstrates diversification in its renewable energy production. Active in several countries across Europe, North America and Australia, the company also demonstrates geographical diversification in its operations.
Vertical integration
Plenitude sells power internally to its retail and e-mobility units, minimizing reliance on subsidies or third-party contracts, and is leveraging existing customer relationships by expanding into services like rooftop solar and heat pumps to enhance its platform.
Growth through investment
At the beginning of 2025, Plenitude signed an agreement with EDP Renewables to acquire two photovoltaic plants and a storage facility in the United States with a capacity of 245 megawatts. Acquisitions like these support Plenitude's accelerated growth.
Footnotes and important information
- Numbers as of end of 2024.
- Numbers as of November 2024.
