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Milan, Rome and Zurich, 8 January 2024 - GreenIT, the Italian renewable energy joint venture founded in 2021 by Plenitude (Eni, 51% ownership) and CDP Equity (CDP Group, 49% ownership), has signed an agreement with Galileo, the pan-European renewable energy development and investment platform, for the realization of eight photovoltaic projects, totalling approximately 140 MW, across three regions in Southern, Central and Northern Italy.

Once in operation, it is estimated that the plants will be able to cover the electricity consumption of over ninety thousand1 households2, thus contributing to Italy''s decarbonisation targets of the 2030 National Integrated Energy and Climate Plan and its energy transition.

Paolo Bellucci, CEO of GreenIT and Head Renewable Business Italy of Plenitude, commented: "We are excited about this agreement with Galileo which, thanks to its internationally recognised experience in the sector, will contribute to the development of GreenIT's portfolio through technologically advanced projects. This transaction is in line with the company's mission and its objectives to develop, build and operate plants for the production of energy from renewable sources in Italy".

1) Calculation based on the estimated average annual electricity consumption of an Italian residential customer of 2,700 kWh/year according to data published by Arera in the Annual Report 2021.

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