Processing timeline
15
days
Acquirer(s)
Bolt S.p.A Lodi under no. 14245060968
Target(s) or Vendor(s)
Eni Plenitude S.p.A. Società Benefit Lodi under no. 123 000 201 58
Other parties
Ares Management LLC LEI - 3M096E5S0PEUTB0I8L53, Eni S.p.A. Registration Authority ID - 00484960588, WINDLAB PTY LIMITED ABN - 26 104 461 958
Ares Management-controlled Bolt S.p.A. will acquire joint control of Eni Plenitude S.p.A. Società Benefit from Eni S.p.A. via a share purchase and capital increase. Plenitude is an integrated energy transition company with Australian utility-scale solar assets (45 MWAC) in the Northern Territory. Ares has Australian wind development interests through Windlab.
Bolt S.p.A. ( Bolt ), a company owned by AC Europe SCSp managed by affiliates of Ares Management LCC (together with its affiliates, managed funds and vehicles, Ares ), proposes to acquire joint control by Bolt, over Eni Plenitude S.p.A. Società Benefit ( Plenitude ), a company currently solely controlled by Eni S.p.A., by way of a purchase of shares through the subscription of a capital increase (the Acquisition ). The Acquisition will result in joint control of Plenitude by Ares and Eni S.p.A. Bolt is an Italian joint stock company and investment entity ultimately controlled by funds managed or advised by affiliates of Ares a global alternative investment manager. Bolt currently holds approximately 20% of the share capital of Plenitude which it acquired from Eni in June 2022. In Australia, Ares' energy interests are held through Windlab Pty Ltd ( Windlab ), jointly owned with Federation Asset Management. Windlab's portfolio comprises wind development projects in National Electricity Market regions of Queensland, NSW, Victoria, Tasmania and Western Australia (NEM regions), as well as having a development role for one project in Western Australia (which is its only project outside of the NEM). Windlab's activities include the Bungaban project in Queensland (developing project), the Gawara Baya project in North Queensland and the Junction Rivers project in New South Wales. Plenitude is an integrated energy transition company currently solely controlled by Eni S.p.A.. Globally, Plenitude is active in the production of electricity from renewable sources, in the retail sale of electricity and natural gas to both domestic and non-domestic customers, in the electric mobility sector, and in the provision of energy efficiency services. In Australia, Plenitude's activities are limited to utility-scale solar generation on the Northern Territory's Darwin–Katherine Interconnected System (outside the NEM regions). Through wholly-owned Australian subsidiaries, Plenitude owns the Katherine solar farm, the Batchelor solar farm and the Manton Dam solar farm with 45 MWAC contracted to the Northern Territory's government-owned electricity retailer Jacana Energy.