EIB may finance four Eni renewables plants in Italy

The European Investment Bank (EIB) may provide financing to Italian oil and gas major Eni SpA (BIT:ENI) for the construction of four new renewable energy generation plants in Italy.

The facilities will be located in the vicinity of Eni plants and areas of operation in the regions of Sardinia, Sicily and Puglia. In May, the Italian company unveiled a plan to install over 420 MW of renewable energy capacity in the vicinity of other company-owned plants both at home and abroad.

The project is currently under appraisal by EIB, according to information on the bank's website on Tuesday. No details of the cost of the plants and EIB's financing were provided.

At the same time, Eni on Tuesday announced a framework agreement with US conglomerate General Electric (NYSE:GE) to jointly identify and develop large-scale renewable energy projects and hybrid solutions with a focus on energy efficiency.

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