Italy’s Eni eyes foray into Indian clean energy space

Underpinning the growing focus of global super energy majors on India’ green economy, Italy’s Eni SpA is exploring the feasibility of participating in the world’s largest clean energy programme, said two people aware of the development.

Eni is eyeing gigawatt (GW)-scale investments in India and plans to reach 55GW installed capacity globally by 2050. The Rome-headquartered firm is studying the build quality of projects, players’ profiles, and the market in India.

Oil giants are aiming to diversify and invest in India’s clean energy programme as the conventional hydrocarbon space undergoes technological disruptions. With a focus on environmental, social and governance (ESG) investment, marquee global oil and gas firms, such as French energy giant Total SA, and Malaysia’s state-run oil and gas company Petroliam Nasional Bhd, or Petronas, have already invested in India. Thailand’s PTT Group is looking to acquire a stake in ReNew Power from Goldman Sachs Group.