Fullness, Eni's low carbon company, has signed a binding agreement to acquire 100% of Acea Energia, the retail arm of the Acea Group. The scope of the operation includes 50% of Umbria Energy is also includedUpon closing, expected by June 2026 and subject to approval by the authorities, Plenitude will pay 460 million euro, to which will be added the recognition of normalized net cash up to 127 million: the account can thus reach 587 million.
A component of is also foreseen additional price up to 100 million, linked to specific performance objectives to be verified by 30 June 2027. All under the umbrella of the standard adjustment mechanisms for operations of this nature.
Plenitude accelerates: customer target exceeded two years early
With the entry of approximately 1,4 million Acea Energia customers, Plenitude reaches 11 million customers in Europe in one fell swoop: a goal that was set for 2028 in the industrial plan.
For the Eni-controlled company—operating in over 15 countries, with 4,8 GW of renewables, a network of 22.000 charging points, and a retail portfolio already comprising 10 million customers—the acquisition represents a dimensional and strategic leap.
"I am very pleased with this agreement; it represents an important step in our growth journey. The combined expertise of Plenitude and Acea Energia will generate significant synergies, supported by our customers' trust in our vision," commented Plenitude's CEO. Stephen Goberti.
Acea changes its skin and focuses on regulated businesses
For Acea, assisted by Rothschild, the sale of the retail branch is an act of industrial refocusingThe Roman group, the leading Italian water operator, second in Europe and also with operations in Latin America, has thus chosen to cfocus resources and strategies on regulated infrastructure activities: water, electricity networks, gas, environment.
The proceeds of the operation "may be reinvested in infrastructure, innovation and sustainability, in line with the path outlined by the industrial plan" – explains the CEO Fabrizio Palermo - "generating a positive impact on the group's growth and results. I would like to thank everyone at Acea Energia for their contributions and the professionalism they have demonstrated over the years. The value recognized in the operation is also the result of their commitment."
A move that reshapes the market balance
Acea's exit from the retail sector and the simultaneous strengthening of Plenitude are reshaping the Italian energy landscape at a crucial stage, characterized by the transition to low-emission models and the complete opening of the market. For Plenitude, this means expanding its scale, accelerating growth, and consolidating its position as one of the strongest operators in the European market; for Acea, it means focusing on regulated, more stable, and infrastructure-intensive businesses.
