Eni completes first solar project in Pakistan
Eni, through its subsidiary Eni New Energy Pakistan, has inaugurated the Bhit Photovoltaic Plant, Eni’s first solar project in Pakistan. Exploiting all the synergies in place, Eni has achieved a short time-to-market, with a start-up reached only six months after the Final Investment Decision (FID).
The plant, built in proximity to the Bhit Gas Plant, aims at supporting the company’s upstream operations by providing green energy in an off-grid configuration. The Bhit Photovoltaic Plant has a 10MW peak capacity and is expected to produce approximately 20GWh (Gigawatt hours) annually. The output energy will be used on site, reducing gas consumption and avoiding around 144,000 tonnes of CO2 equivalent emissions during plant life.
The photovoltaic plant works in full synergy with the existing power generation system of Bhit gas treatment plant, optimising operational costs with the shut down of one of the existing gas turbines.
Bhit Photovoltaic Plant, while adding extra value to the traditional operations held in Pakistan, confirms Eni’s commitment towards a low-carbon scenario in which renewable energy plays a pivotal role and is fully integrated in the energy mix.
Eni has been present in Pakistan since 2000 and operates in the upstream sector, where the main permits in the country are Bhit/Badhra (Eni operator with a 40% interest), Kadanwari (Eni operator with 18,42% interest), Latif (Eni 33,3%), Sawan (Eni 23.68%), Zamzama (Eni 17.75%) and Miano (Eni 15,16%). Eni is the operator of three offshore blocks and is also active in the midstream sector.
In related news, Eni gas e luce, the energy retail company 100% controlled by Eni, earlier signed an agreement with L&B Capital, Evolvere S.p.A.’s main shareholder, to acquire 70% of Evolvere S.p.A., with a possibility of acquiring the remaining 30% of the company in the future.
The transaction, which will be finalised upon receiving all authorisations from the relevant authorities, is strategic for Eni gas e luce, which becomes leader in the area of solar distributed generation in Italy, in line with Eni’s mission that seeks to build value through the energy transition.
With Evolvere’s acquisition, Eni gas e luce – a leader in the commercialisation of gas, power and energy solutions with eight million customers in Italy – strengthens its commitment to help its customers make the best use of energy, to use it less. This acquisition follows closely Eni gas e luce’s entry into the e-mobility market, with the launch of electric vehicles’s recharging solutions for households and businesses.
Evolvere is a leader in the distributed generation sector in Italy, with around 11,000 photovoltaic plants, accounting for around 58MW of total installed power. Among these, it owns around 8,000 plants installed on domestic customers’ and businesses’ rooftops. The company’s offer includes the sale, installation and maintenance of solar photovoltaic plants and batteries for residential customers and businesses up to 20KW. Evolvere is also involved in a pilot test in Lombardy, Italy, for the supply of flexibility services from households to the grid. Evolvere is well-placed to benefit from the development of energy communities, as per the European Directive RED II, soon to be adopted in Italy.
“Following the acquisition, Eni gas e luce is best positioned to create further value, making new business opportunities available to Evolvere, by involving its business partners and providing the company with the resources needed to seize the opportunities of a fast growing market,” said Eni gas e luce’s CEO Alberto Chiarini.
In Italy, the market of small photovoltaic plants is expected to grow fast in the next four years, with an average of new installed power of 290 MW per year, counting on a potential pool of around nine million single-family or two-family houses, on top of the around 800,000 prosumers (energy producers and consumers) already active.