ENI is said to be budgeting a significant amount of funds for the development of renewable projects. During a parliamentary hearing in Milan, the company’s CEO, Claudio Descalzi, said the company was ready to spend hundreds of millions in euros on solar energy projects in Africa.
The company is currently working on two solar projects in mature fields close to depletion, with Descalzi saying that ENI was also working on greenfield off-grid solutions in areas that are not easy to access, with the idea to create small hubs that could be interconnected.