Plenitude adds Ares Management as new shareholder

Plenitude is an Italian multi-energy company fully owned by Eni S.p.A, has agreed to sell a 20% stake to Ares Management for €2 billion (~$ 2.32 billion). The deal values Plenitude at €10 billion (~$ 11.60 billion) in equity and €12 billion (~$ 13.92 billion) in enterprise value. Completion is subject to regulatory approvals. Ares joins Energy Infrastructure Partners, which holds a 10% stake. Plenitude operates in over 15 countries with 4 GW of renewable energy. It serves more than 10 million customers and manages 21,500 EV charging points. By 2028, it targets 10 GW of capacity and over 11 million customers. Ares Management is a global investment manager with $546 billion in assets. Its platform spans North America, South America, Europe, Asia Pacific, and the Middle East.This follows Plenitude's recent agreement with Marelli to develop 5.4 MW of solar plants across multiple sites in Italy.