Cesena, 2nd december 2022 - PLT energia (PLT) announces that Plenitude, a subsidiary of Eni, has signed an agreement for the acquisition of the entire capital of PLT (PLT energia S.r.l and respective subsidiaries) and SEF (SEF S.r.l. and respective subsidiaries).Pierluigi Tortora, Chairman of PLT
, declared: "It is a source of pride and personal satisfaction and serenity to have signed the sale operation of PLT and SEF groups with Eni/Plenitude, an Italian industrial operator, which ranks among the first on the international scene with an ambitious growth plan in the renewable energy sector. The validity of the assets, the pipeline, and the organizational model of PLT energia were highly appreciated. Additionally, thanks to the skills and professionalism of our human resources, we have been able to achieve significant goals on the national scene over the years".Stefano Marulli, CEO of PLT and CEO of SEF
, declared: "It is necessary to thank Pierluigi Tortora, founder of the PLT energia and SEF Group, along with the other minority shareholders, for the foresight of the strategic choices, which over the years have led the Group to be the first independent Italian operator, with an international scope, integrated both in the production and in the retail sale of electricity and gas. The perfect integration with the Plenitude business model will allow the management and all the collaborators to exploit the experience acquired over the years. Simultaneously, it will also increase our potential to contribute significantly to the goals declared in an increasingly competitive and capital-intensive sector".
The effectiveness of the transaction is subject to obtaining the usual authorizations.
In the transaction Rothschild & Co acted as exclusive financial advisor to PLT and SEF. BonelliErede and Orsingher Ortu - Avvocati Associati law firms the role of legal advisors, EY the role of accounting and tax advisor and Fichtner the role of technical advisor of PLT and SEF.
PLT and SEF together represent one of the largest Italian groups active in the energy sector, committed in the development, construction and management of energy production plants from wind, photovoltaic and biomass sources, as well as in the sale of electricity and gas to the retail market.
With an installed capacity in Italy of over 400 MW, 80% already operational and 20% under construction with start-up expected by 2024, and an activity program that envisages the development of over 1.2 GW between Italy and Spain in the next five years, the group represents a significant example of an industrial reality developed over the last twenty years, seizing in advance the opportunities offered by the energy transition.
Its "industrial" strategy of verticalization and process optimization has proven to be successful, as well as the completely autonomous management of all phases, from the feasibility study to the installation and management of the plants, integrating downstream with the sale of green energy to end customers.
FIEE, minority shareholder (19.3%) of PLT energia, is the first Italian equity fund - and among the first in Europe - dedicated exclusively to the energy transition sector, with approximately 400 million euros under management, mainly partly already invested in 9 companies (over 1,100 people employed, approximately 200 million ebitda developed), including the first independent Italian operator in public lighting, and the Italian leader in energy services in the residential sector.Raffaele Mellone, co-CEO of FIEE
, declared: "We are extremely pleased with PLT's growth path, which we have helped accelerate with capital and expertise over the years. This is a very prestigious operation for FIEE, also in view of raising our third fund".Andrea Marano, co-CEO of FIEE
, added: "The extraordinary result achieved was also possible thanks to a solid relationship established with Tortora family, who knew how to lead the company with professionalism and a strong entrepreneurial spirit. Our esteem and our appreciation for the work they have done goes to them"
Plenitude is Eni Benefit Company which integrates the production of energy from 100% renewable sources, the sale of energy services and a large network of charging points for electric vehicles. The company currently supplies energy to around 10 million European customers in the retail market with the aim of reaching more than 11 million customers by 2025 and installing over 30,000 charging points for electric mobility. The Company also plans to exceed 15 GW of installed capacity by 2030 and achieve carbon neutrality by 2040.https://www.eni.com/en-IT/media/press-release/2022/12/plenitude-strengthens-its-presence-italy-and-spain-signing-agreement-acquire-100plt.html