BAKU, Azerbaijan, February 29. Eni's installed capacity from renewables, as of December 31, 2023, reached 3 GW, Trend reports.
According to the company, this marked an increase of approximately 0.8 GW compared to December 31, 2022. This growth is primarily attributed to acquisitions in Spain (Bonete) and the US (Kellam), as well as organic development in Italy, Spain, and Kazakhstan, Eni explained.
Additionally, the acquisition of 3 photovoltaic plants in the US, with a total capacity of about 0.38 GW, was finalized at the end of the year, the company added.
Meanwhile, Eni's energy production from renewable sources in Q4 '23 amounted to 0.99 TWh, marking a significant 51-percent increase year-on-year (0.65 TWh Q4 '22). According to the company, this growth is largely attributed to the contributions from acquired assets in operation and the initiation of organic projects.
In the fiscal year '23, production from renewable sources totaled 3.98 TWh, reflecting a substantial 56-percent increase compared to 2022. The same factors drove this growth throughout the entire fiscal year.
Despite a volatile scenario characterized by a decline of 5 percent in Brent and a substantial 57-percent decrease in European natural gas prices from Q4 '22, Eni demonstrated resilience. In Q4 '23, the adjusted profit before tax reached 3.2 billion euros, contributing to a full-year adjusted profit before tax of 15.1 billion euros. This outcome underscores the Group's robust performance, driven by effective operational execution and financial discipline.