By Giulia Petroni

 

Eni SpA said Monday that it has signed an agreement with investment manager Azora Capital to acquire a 1.2-gigawatt portfolio of nine renewable-energy projects in Spain.

The Italian oil-and-gas major said the portfolio includes four wind farms for a total capacity of 230 megawatts and five solar projects for around 1 gigawatt. Plants that are still under development are expected to enter into production by 2024.

Eni signed the agreement through its subsidiary Eni gas e luce, which is present in Spain through Aldro Energia Y Soluciones SL.

Financial details of the deal weren't disclosed.

 

Write to Giulia Petroni at giulia.petroni@wsj.com

 

(END) Dow Jones Newswires

July 26, 2021 05:39 ET (09:39 GMT)

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