Italian oil major Eni said it would spend up to € ##500 ( $ 8.6bn ) on renewable power out to 2021 , including building new solar power plants on up to 25 of its industrial sites . Eni will initially build five solar plants with a combined 70 MW capacity , adding 150 MW in a second phase . The oil company ’s total installed renewable power generation capacity is expected to reach 300 MW by 2020 . Up to € 1bn of the money will be spent on other green sectors , including research and development on solar power , energy storage , advanced biofuels , biomass and wind power .
Italian oil major Eni said it will spend up to €7bn ($8.6bn) on renewable power out to 2021, including building new solar power plants on up to 25 of its industrial sites. Eni will initially build five solar plants with a combined 70 MW capacity, adding 150 MW in a second phase. The oil company’s total installed renewable power generation capacity is expected to reach 463 MW by 2020. Up to €1bn of the money will be spent on other green sectors, including research and development on solar power, energy storage, advanced biofuels, biomass and wind power.