Integrated energy major Plenitude and ACEA have finalized a major energy sector deal, with Plenitude completing the acquisition of 100% of Acea Energia S.p.A. and a 50% stake in Umbria Energy S.p.A., the companies announced.

 

The transaction, cleared by regulators, will significantly expand Plenitude’s footprint, adding around 1.2 million customers to its portfolio. Vulnerable electricity customers are excluded from the agreement and will remain under ACEA Group management.

 

The total value of the deal stands at approximately €500 million. This figure reflects an Enterprise Value of €448 million—updated for the revised scope of the transaction—along with net cash normalized as of 31 December 2024 (the “locked box date”) and additional adjustments, including a dividend payout of about €82 million to ACEA. 

 

A further performance-linked payment of up to €100 million could be awarded to ACEA, depending on results assessed by 30 June 2027.

 

The acquisition strengthens Plenitude’s position as a growing force in integrated energy. The company already operates in over 15 countries, combining renewable power generation—currently at 5.8 GW—with energy sales and solutions across Europe, serving more than 11 million customers. 

 

It also manages a network of 23,000 public electric vehicle charging points. By 2030, Plenitude is targeting 15 GW of renewable capacity, 15 million customers, and 30,000 EV charging stations.

 

For ACEA, one of Italy’s leading industrial groups, the deal marks another step in sharpening its focus on core infrastructure and regulated services.

 

The group says it remains committed to sustainability and long-term value creation, emphasizing its role in delivering essential services and supporting local communities while advancing environmental goals.