To expand in renewable energy market Eni in association with Norwegian energy entrepreneur and investor HitecVision, established a new joint venture company, Vårgrønn, with the aim of developing new green energy projects in Norway and the Nordic market.
- The Vårgrønn JV, which marks the start of a broader strategic cooperation between Eni and Hitecvision, is built on the long-term partnership that has already developed Vår Energi, a leader in the exploration and production of hydrocarbons in Norway.
- Vårgrønn intends to play a major role in the development, construction, operation and financing of renewable energy projects in the country.
The prominent deals and partnerships by Eni are mentioned below:
July 2020: The England based energy supply company OVO Energy has announced a strategic partnership with Eni gas e luce in France. The partnership will enable Eni gas e luce and OVO to harness the opportunities to build a more flexible, digitally connected, clean energy system.
June 2020: Enis subsidiary Eni New Energy, a group company that operates in Italy, has acquired from Asja Ambiente Italia 100% of the shares in CDGB Enrico, CDGB Laerte e Wind Park Laterza. The three wind farms, that will be built in Comune di Laterza, in the Puglia region, have a peak capacity of 35.2 MW and are expected to produce approximately 81 GWh annually, avoiding around 33,400 tonnes of CO2 emissions per year.
January 2020: Eni signed a long term contract for the purchase of 1.5 million tonnes of liquefied natural gas with Nigeria LNG Limited (NLNG). As per contract, the LNG will be produced from the existing Trains 1,2, and 3 located in Bonny Islands of Nigeria.
January 2020: Eni signed a Memorandum of Understanding with Abu Dhabi National Oil Company (ADNOC) for the joint development of research activities aimed at creating advanced technological solutions for the reduction, capture, usage, or confinement (CCUS) of CO2 emissions at fields. With the help of high-efficiency technologies, the CO2 will be used to improve the hydrocarbon recovery factor and to be stored permanently. The MoU will also explore processes and technologies related to the business aimed at promoting the circular economy.
December 2020: Eni signed a strategic agreement with Falck Renewables for the joint development of renewable energy projects in the United States. The agreement involves the creation of 50:50 joint venture for the development, construction and financing of new solar photovoltaics, and wind projects.
About Eni S.p.A
Eni, is a global energy company, headquartered in Rome, Italy. The company is developing renewable energy projects both in brownfield and greenfield on a global scale. The company mainly operates in the oil and natural gas exploration, development and extraction industries in about 43 countries,. Eni also trades in the oil, natural gas, LNG and electricity sectors in nearly 28 countries and sells fuels and lubricants in approximately 33 countries. It has more than 31,000 employees in nearly 67 countries worldwide.
Eni is using new and increasingly efficient clean technologies to produce energy and contributing to a low-carbon future by promoting the development of energy produced from renewable resources. The company also produces crude oil and semi-finished products to be used in the production of fuels, lubricants, biofuels, and chemicals.