Eni and Sonangol Join Forces on Green Initiatives in Angola
05 June 2019 - 09:24PM
Dow Jones News
By Olivia Bugault
Italy's ENI SpA (ENI.MI) has agreed to set up a renewable energy
initiative with Angola's state-run oil-and-gas company Sonangol,
the Italian oil major said Wednesday.
Eni said the jointly controlled entity's strategy will be in
line with Angola's own aim of delivering 800 megawatts of installed
renewable energy capacity by 2025. The new company will be called
Solenova Ltd.
"The first business opportunity jointly identified in the
renewable energy sector consists in the phased development of a 50
MWp photovoltaic plant in the southern part of the country," Eni
said.
The company didn't disclose the financial details of the
deal.
Write to Olivia Bugault at olivia.bugault@dowjones.com
(END) Dow Jones Newswires
June 05, 2019 07:09 ET (11:09 GMT)
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