Italian oil major Eni will launch an initial public offering (IPO) for a minority stake in its retail and renewables (Eni R&R) business, in a move it claimed will “crystallise the value” of the fast-growing unit and unlock competitive capital needed to fund its ambitious plans.
Eni’s renewables operation aims to develop more than 6GW by 2025 on the road to reaching 15GW by 2030 and 60GW by 2050, by when the group as a whole plans to be carbon neutral.
