Italian oil group Eni has bought 49% of the operating solar assets of Falck Renewables in the US, and has signed a strategic agreement to develop a further at least 1GW of solar plants in the US by the end of 2023.

“For Eni, the agreement with Falck Renewables opens up a new, low-risk and highly fluid market in which we are aiming to grow very quickly,” said Luca Cosentino, executive vice president of Energy Solutions at Eni.