Eni Plenitude Revenue, Valuation, Funding & Investors

Eni Plenitude is valued at $15B as of October 2026, a 1.3x revenue multiple. Eni Plenitude revenue was $11B, as disclosed with its latest round.

Last Eni Plenitude valuation

$15B

Undisclosed stage · Oct 2026

Last Eni Plenitude funding round

Undisclosed stage

Amount undisclosed · Oct 2026

Eni Plenitude revenue

$11B

Undisclosed stage · Oct 2026

Key investors in Eni Plenitude

Eni Plenitude Overview

About Eni Plenitude

Eni Plenitude is a Milan-headquartered energy retailer operating in 10 European countries, generating electricity from 6 GW of renewable capacity including solar farms in Italy and Spain. The company manages 7 million charging points for electric vehicles across highways and urban areas, alongside retail sales of gas and power to residential and business customers.


Founded

2017

HQ

ItalyMilan

Status

Privately held

Customer focus

B2C & B2B

Revenue model

Usage-based

Revenue

$11B (Oct 2026)

Valuation

$15B (Oct 2026)

Eni Plenitude Valuation

Eni Plenitude is currently valued at $15B, based on its undisclosed-stage round in October 2026. Read the announcement ↗

The round was led by Ares Management.

Eni Plenitude's valuation has grown 1.6x from $9.2B at its secondary sale in December 2023 to $15B in October 2026, across 4 priced rounds.

Eni Plenitude valuation by funding round

Revenue multiple
Eni Plenitude valuation by funding round
DateStageValuationRevenue Multiple
Oct 2026Undisclosed stage$15B1.3x
Jun 2025Secondary$12B1.5x
Nov 2024Undisclosed stage$8.5B-
Dec 2023Secondary$9.2B-

Eni Plenitude Revenue

Eni Plenitude's latest recorded revenue is $11B, as of its undisclosed-stage round in October 2026. At a $15B valuation, that implies a 1.3x revenue multiple.

Revenue grew from $7.7B in June 2025 to $11B in October 2026, while the revenue multiple moved from 1.5x to 1.3x.

Eni Plenitude revenue by funding round

Eni Plenitude revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Oct 2026$11B$15B1.3xUndisclosed stage
Jun 2025$7.7B$12B1.5xSecondary

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

Eni Plenitude Funding History

Eni Plenitude has raised a total of $221M across 2 funding rounds, plus 2 secondary share sales.

Eni Plenitude's first fundraising round was a $221M undisclosed-stage round in November 2024. The most recent completed round was a undisclosed-stage round in October 2026.

Eni Plenitude funding rounds

Eni Plenitude funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Oct 2026Undisclosed stageAres Management (lead)-$15BEni completed the reorganization of Plenitude's shareholding structure with Ares Management and Energy Infrastructure Partners in October 2026, involving a non-proportional capital increase of EUR 1.56 billion at a pre-money equity value of EUR 10.75 billion (approximately EUR 13.1 billion enterprise value). Ares subscribed EUR 1.08 billion while Eni subscribed EUR 0.48 billion. Plenitude is an Italian energy company controlled by Eni, operating in the sale and marketing of gas and electricity for households and businesses, the production of renewable energy, and the management of charging points for electric vehicles. The company generated EUR 10.168 billion in revenue during fiscal 2025 with EUR 254 million in net income. Plenitude serves over 11 million retail customers across Europe with approximately 6 GW of renewable energy capacity and 23,000 electric vehicle charging points. Post-transaction, Eni held 65.03 percent, Ares 26.24 percent, and EIP 8.73 percent of Plenitude's share capital.
Jun 2025SecondaryAres Management (lead)$2.4B$12BEni Plenitude is an Italian energy transition company integrating renewable energy production exceeding 4 GW, retail power and gas services for over 10 million customers across more than 15 countries, and management of 21,500 EV charging points. On June 23, 2025, Eni sold a 20% stake in Plenitude to Ares Management's Alternative Credit funds for approximately €2 billion, based on a €10 billion equity valuation and over €12 billion enterprise value. This transaction follows Eni's prior sale of a 10% stake to Energy Infrastructure Partners in 2023 at a similar valuation and a capital increase in 2024 bringing EIP to 10%. Plenitude targets 10 GW renewable capacity by 2028. In 2023, Plenitude reported €6.7 billion in turnover and €363 million EBITDA.
Nov 2024Undisclosed stageEnergy Infrastructure Partners (lead)$221M$8.5BEni, Plenitude and Energy Infrastructure Partners signed an agreement on 11 November 2024 for a further capital increase of approximately EUR 209 million, taking EIP's holding in Plenitude to 10% of the share capital. The top-up followed EIP's initial EUR 588 million subscription completed in March 2024 and brought its total investment to around EUR 800 million. The transaction implied a post-money equity value for Plenitude of around EUR 8 billion and an enterprise value of over EUR 10 billion, the same terms as the original December 2023 agreement. The proceeds strengthened Plenitude's balance sheet and supported its renewable capacity build-out and electric vehicle charging network. Plenitude is Eni's energy transition company and combines renewable generation, retail power and gas supply to more than ten million customers and a large European EV charging network across more than fifteen countries. The investment is part of Eni's satellite model, under which minority stakes in growth businesses are sold to establish an external market valuation and fund expansion. Eni sold a further 20% of Plenitude to Ares Management in 2025 at a EUR 10 billion equity value.
Dec 2023SecondaryEnergy Infrastructure Partners (lead)$649M$9.2BEni Plenitude is a diversified energy transition company integrating renewable energy production, retail energy sales and solutions, and electric vehicle charging infrastructure across 15 countries. On December 21, 2023, Eni and Plenitude signed an agreement for Energy Infrastructure Partners (EIP) to invest through a capital increase of up to €0.7 billion, representing approximately 9% of the company's share capital post-transaction. The deal implies a post-money equity value of around €8 billion and an enterprise value of over €10 billion. The transaction closed on March 8, 2024, with EIP investing €588 million for approximately 7.6% stake at the same €8 billion equity valuation. This investment strengthens Plenitude's balance sheet, reduces debt, and supports growth in renewables, energy sales, and EV charging. Plenitude raised its 2023 EBITDA target by 30% to around €0.9 billion, aiming to triple it to €1.8 billion by 2026 alongside expanding renewable capacity to 7 GW and EV charging points to 30,000. The deal advances Eni's satellite model for high-potential businesses, providing market valuation visibility and access to new capital for Plenitude's path to carbon neutrality by 2040.

Who has invested in Eni Plenitude?

2 investors have backed Eni Plenitude across its funding rounds, including Ares Management and Energy Infrastructure Partners.

Lead investors include Ares Management and Energy Infrastructure Partners.


Eni Plenitude Investors

Investors in Eni Plenitude by funding rounds participated
InvestorHQRoundsRoleFirst check

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

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Acquisitions by Eni Plenitude

Eni Plenitude has acquired 3 companies to date.

Last acquisition by Eni Plenitude was on April 10th 2026. Eni Plenitude acquired Acea Energia for $524M.


Latest Acquisitions by Eni Plenitude

Acea Energia
Acea Energia
PLT energia Srl
Description
-
-
PLT Energia Srl is an Italian developer and operator of renewable energy facilities, including wind farms, photovoltaic plants, biomass units, and cogeneration systems. Headquartered in Rome, the company trades electricity on wholesale markets and manages over 100 MW of installed capacity. Founded in 2007, PLT partners with utilities for grid-connected projects in southern Italy.
HQ CountryItalyItalyItaly
HQ City
-
-
Milan
Deal Date10 Apr 20264 Jun 20252 Dec 2022
Valuation$524M$497Mundisclosed
EV/Revenue
EV/EBITDA

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Eni Plenitude Competitors

Eni Plenitude competitors include listed companies like China Three Gorges, EDP Renewables, GD Power Development and Public Power Corporation, and private ones like Helion Energy and Cepsa.

Public and private companies comparable to Eni Plenitude
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
China Three GorgesChinaChinaPublicly listed$4.3B$3.5B$15B11.8x
EDP RenewablesSpainSpainPublicly listed$3B$1.9B$15B8.9x
GD Power DevelopmentChinaChinaPublicly listed$26B$6.8B$14B2.6x
Public Power CorporationGreeceGreecePublicly listed$11B$2.1B$15B1.7x
Helion EnergyUnited StatesSeattle, WAPrivate--$16B-
CepsaSpainMadridPrivate$28B$2B$12B0.4x

Eni Plenitude Public Comps

Eni Plenitude is still privately-owned, but its public comps include China Three Gorges, Origin Energy, EDP Renewables, Romgaz, Hyosung Heavy Industries, Barito Renewables, GD Power Development, Norsk Hydro, Public Power Corporation and National Atomic Co.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
China Three Gorges$4.3B$3.5B11.3x11.8x13.8x13.7x
Origin Energy$11B$1.7B1.6x1.6x10.4x7.5x
EDP Renewables$3B$1.9B9.2x8.9x14.7x11.5x
Romgaz$1.7B$886M9.0x8.9x17.1x17.6x
Hyosung Heavy Industries$4.5B$547M2.9x2.5x23.3x15.3x
Barito Renewables$605M$501M25.4x25.4x30.7x30.4x
GD Power Development$26B$6.8B2.6x2.6x9.8x10.6x
Norsk Hydro$23B$2.8B0.7x0.7x5.9x4.5x

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Common questions about Eni Plenitude

When was Eni Plenitude founded?Eni Plenitude was founded in 2017.
Where is Eni Plenitude headquartered?Eni Plenitude is headquartered in Milan, Italy.
Is Eni Plenitude publicly listed?No, Eni Plenitude is a private, VC-backed company.
What is Eni Plenitude's valuation?Eni Plenitude was last valued at $15B in its undisclosed-stage round in October 2026.
How much funding has Eni Plenitude raised?Eni Plenitude has raised $221M across 2 funding rounds.
What was Eni Plenitude's last funding round?Eni Plenitude's last funding round was a undisclosed-stage round in October 2026, led by Ares Management.
Who are Eni Plenitude's investors?Eni Plenitude's investors include Energy Infrastructure Partners and Ares Management.
What is Eni Plenitude's revenue?Eni Plenitude's latest recorded revenue is $11B (October 2026).
What is Eni Plenitude's revenue multiple?Eni Plenitude's latest valuation implies a 1.3x revenue multiple ($15B valuation on $11B of revenue).
Which companies are comparable to Eni Plenitude?Companies comparable to Eni Plenitude include China Three Gorges, EDP Renewables, GD Power Development, Public Power Corporation, Helion Energy and Cepsa.
How many companies has Eni Plenitude acquired?Eni Plenitude has acquired 2 companies, including Acea Energia and PLT energia Srl.
What was the largest acquisition by Eni Plenitude?The $524M acquisition of Acea Energia in April 2026 is the largest acquisition Eni Plenitude has made to date.

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