EIP invested an additional EUR 209 million in Eni Plenitude, raising its stake to 10%. With a total investment of about EUR 800 million, Plenitude’s equity value stands at EUR 8 billion, with an enterprise value exceeding EUR 10 billion, according to Eni.EIP partner Tim Marahrens expressed confidence in Plenitude’s integrated energy model, citing its strong performance in the energy transition.
Plenitude’s renewable capacity reached 4 GW in 2023, meeting Eni’s target. It aims for over 8 GW by 2027 and 15 GW by 2030. Active in 15+ countries, Plenitude serves 10 million European clients and operates 21,000+ EV charging points.KKR & Co. acquired a 25% stake in Eni’s biofuels unit, Enilive, with plans to increase it to 30%. Eni reported total proceeds of €2.97 billion, including a €500 million capital boost for Enilive’s growth.
The deal values Enilive at €11.75 billion, with KKR reaffirming its commitment as a key partner.Eni’s satellite model creates focused companies to attract capital and drive growth. In 2024, Eni announced restructuring for Enilive and Versalis, with both receiving new capital. Under an October 2024 agreement, KKR and Eni each invested €500 million in Enilive. On February 18, 2025, KKR agreed to acquire an additional 5% stake for €587.5 million.KKR’s Marco Fontana reaffirmed confidence in Enilive’s emissions-reducing technology, aligning with its European energy strategy.
Eni’s €2 billion Versalis plan targets a 1M-ton CO2 cut (40% of its Italian emissions) through new industrial plants, sustainable chemistry, biorefining, and energy storage, phasing out operations in Brindisi, Priolo, and Ragusa.Eni plans to reduce Versalis’ reliance on basic chemicals, a declining sector in Europe that has caused nearly €7 billion in losses over 15 years, with €3 billion in the last five. The company aims to complete this restructuring by 2029.
