U.S. markets open in 5 hours 3 minutes
  • S&P Futures

    3,983.75
    +7.00 (+0.18%)
     
  • Dow Futures

    32,146.00
    +70.00 (+0.22%)
     
  • Nasdaq Futures

    11,936.50
    -5.75 (-0.05%)
     
  • Russell 2000 Futures

    1,803.10
    +6.30 (+0.35%)
     
  • Crude Oil

    111.11
    +0.78 (+0.71%)
     
  • Gold

    1,846.20
    -0.10 (-0.01%)
     
  • Silver

    21.83
    -0.05 (-0.21%)
     
  • EUR/USD

    1.0685
    0.0000 (-0.00%)
     
  • 10-Yr Bond

    2.7490
    0.0000 (0.00%)
     
  • Vix

    28.19
    -1.26 (-4.28%)
     
  • GBP/USD

    1.2568
    -0.0011 (-0.08%)
     
  • USD/JPY

    126.7150
    -0.5260 (-0.41%)
     
  • BTC-USD

    29,360.66
    -408.51 (-1.37%)
     
  • CMC Crypto 200

    645.89
    -25.12 (-3.74%)
     
  • FTSE 100

    7,531.13
    +8.38 (+0.11%)
     
  • Nikkei 225

    26,604.84
    -72.96 (-0.27%)
     

Eni (E) Enters Into an Accord to Acquire Italian Wind Projects

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·2 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

Eni SpA E recently entered into a deal with Glennmont Partners and PGGM Infrastructure Fund.

Per the agreement, the leading integrated energy company will acquire the entire stakes in a portfolio of 13 onshore wind farms in Italy. The total production capacity of the portfolio of wind farms is estimated at 315 megawatts (MW). The company said that 256 wind turbines that are included in the portfolio are located in Sicily, Apulia, Basilicata and Abruzzi. All the wind turbines are currently operational.

Eni expects to have a total installed wind power capacity of 350 MW in Italy, considering its 35-MW project that is under development in Apulia. This has paved the way for Eni to become a leading renewable player in the country. Eni anticipates the transaction, once completed, to be able to provide energy to roughly 200,000 Italian families.

The agreement represents the company’s strong focus to reach its ambitious goal of installing 4 gigawatts (GW) of capacity in 2024, 15 GW in 2030 and 60 GW in 2050.

Eni SpA Price

Eni SpA Price
Eni SpA Price

Eni SpA price | Eni SpA Quote

Currently, Eni carries a Zacks Rank #3 (Hold). Meanwhile, a few better-ranked players in the energy space include Whiting Petroleum Corporation WLL, Continental Resources, Inc. CLR and PDC Energy, Inc. PDCE. While Whiting Petroleum carries a Zacks Rank #2 (Buy), Continental Resources and PDC Energy sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Whiting Petroleum has witnessed upward earnings estimate revisions for 2021 in the past 30 days.

Continental is expected to witness earnings growth of 256% in 2021.

PDC Energy is likely to see earnings growth of 111.8% in 2021.

Breakout Biotech Stocks with Triple-Digit Profit Potential

The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.

Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.

See these 7 breakthrough stocks now>>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Eni SpA (E) : Free Stock Analysis Report

Continental Resources, Inc. (CLR) : Free Stock Analysis Report

PDC Energy, Inc. (PDCE) : Free Stock Analysis Report

Whiting Petroleum Corporation (WLL) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research