Italian oil major Eni has sold a minority stake in its renewables and power offshoot Plenitude for $770m, a deal that puts an $11bn price tag on the unit as a whole.

Eni sold the 9% stake to Swiss fund Energy Infrastructure Partners (EIP), it was announced today (Thursday).

Plenitude said the deal values its "post-entry equity" at around €8bn ($8.8bn).