Italian co eyes India’s green energy space

Consolidating the growing focus of global super energy players on India's green economy, Italy's Eni SpA is exploring the possibility of participating in the world's largest clean energy programme, said sources.

Eni SpA is planning for gigawatt (GW)-scale investments in India and plans to reach 55GW installed capacity globally by 2050. The firm is studying the build quality of projects, player profiles, and India's market.

Oil giants aim to diversify and invest in India's clean energy programme as the conventional hydrocarbon space undergoes technological disruptions. With a focus on environmental, social and governance (ESG) investment, marquee global oil and gas firms, such as French energy giant Total SE, and Malaysia's state-run oil and gas company Petroliam Nasional Bhd (Petronas), have already invested in India. Thailand's PTT Group is looking to acquire a stake in ReNew Power from Goldman Sachs Group.

Eni SpA is firming up its India playbook at a time when recently sworn-in US President Joe Biden promised a "clean energy revolution", by recommitting to the Paris Agreement on the first day of his administration.

About Eni SpA
Eni SpA is an Italian multinational oil and gas company headquartered in Rome. Considered one of the seven "Supermajor" oil companies in the world it has operations in 66 countries and had registered hydrocarbon production of 1.871 million barrels of oil equivalent per day (mboed) in 2019.