Eni SpA’s E renewable energy arm, Plenitude, has announced the start of operations at the Numancia wind plant in Soria, Spain. This development is aimed at enhancing E’s renewable energy portfolio in the region and its wind capacity.
The Numancia wind plant consists of two adjacent farms in the Almarza area of Soria, Spain, spanning 10 hectares. Equipped with three Vestas V136 wind turbines, the facility generates 13 megawatts (MW) of power, providing 31 gigawatt-hours (GWh) of electricity annually, sufficient to meet the needs of more than 9,500 households. This project is aimed at enhancing E's footprint in the Castilla y León region. It connects to the Garray substation via a 17 km overhead line.
With the launch of Numancia, Plenitude, controlled by Eni, now has 440 MW of installed wind and solar capacity in Spain. This includes plants in regions such as Castilla y León, Galicia, La Rioja, Catalonia, Castilla-La Mancha and Murcia. Plenitude plans to expand its portfolio with nearly 1 GW of additional capacity under construction, and aims for further growth through new projects in the country.
Plenitude’s Numancia project incorporates advanced environmental measures, including automated bird passage detection systems to safeguard local wildlife. The company has also set up a recreational area near the farms for public use. Plenitude remains committed to exploring new renewable energy investments in Castilla y León, with an emphasis on expanding its reach to retail and SME customers across Spain.
Plenitude’s achievements in Spain reflect Eni’s broader strategy of growing its renewable energy presence worldwide. Currently, Plenitude operates in over 15 countries with more than 3 GW of installed renewable capacity. The company aims to reach 8 GW by 2027 while increasing its customer base to 11.5 million and expanding its electric vehicle charging network to 40,000 stations.
This latest milestone with the Numancia wind plant highlights E's commitment to sustainable energy and its expanding influence in the renewable sector.
Investors interested in the energy sector may look at some other stocks like PEDEVCO Corp. PED, Archrock Inc. AROC and Core Laboratories Inc. CLB.
PEDEVCO is engaged in the acquisition and development of energy assets in the United States and Pacific Rim countries. PED stands to benefit significantly from its holdings in the Permian Basin, one of the most prolific oil-producing regions in the United States, as well as in the D-J Basin in Colorado, which includes more than 150 high-quality drilling locations.
The Zacks Consensus Estimate for PED’s 2024 EPS is pegged at $0.08. The company has a Value Score of B. It has witnessed upward earnings estimate revisions for 2024 in the past 60 days.
Archrock is an energy infrastructure company based in the United States, with a focus on midstream natural gas compression. It provides natural gas contract compression services and generates stable fee-based revenues.
The Zacks Consensus Estimate for AROC’s 2024 EPS is pegged at $1.04. It has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 30 days.
Core Laboratories, an oilfield services company, has a deep portfolio of sophisticated, proprietary products and services that positions it to take advantage of the growing maturity in the global hydrocarbon reserve base. CLB’s expanding international upstream projects indicate a positive trajectory for revenues and profitability, especially as oil demand continues to rise globally.
The Zacks Consensus Estimate for CLB’s 2024 EPS is pegged at $0.95. The company has a Value Score of B. It has witnessed upward earnings estimate revisions for 2025 in the past 30 days.
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