Business & Finance
Eni unit to buy FRI-EL Biogas in decarbonisation drive
- Eni said its unit Ecofuel had reached an agreement with FRI-EL Greenpower, a Gostner family holding, to buy FRI-EL Biogas Holding, but did not provide any financial details of the deal.
- The deal is part of Eni's broader decarbonization strategy, which aims to eliminate all emissions from industrial processes and products by 2050.
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Italian energy group Eni said on Monday it would buy biogas producer FRI-EL Biogas Holding as part of its efforts to cut its carbon footprint.
Eni said its unit Ecofuel had reached an agreement with FRI-EL Greenpower, a Gostner family holding, to buy FRI-EL Biogas Holding, but did not provide any financial details of the deal.
The 21 plants owned by FRI-EL Biogas Holding which generate electricity from biogas will be converted to produce biomethane and, when fully operational, will supply over 50 million cubic meters per year to the network.
The deal is part of Eni's broader decarbonization strategy, which aims to eliminate all emissions from industrial processes and products by 2050.