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Eni ups renewable ante through work with GE

Italian company said it aims to build a stronger presence in the renewable energy sector.

By Daniel J. Graeber
Eni ups renewable ante through work with GE
Italian energy company Eni said it would work with GE to help build up its portfolio in the renewable power sector. File photo by Stephen Shaver/UPI | License Photo

MILAN, Italy, Nov. 22 (UPI) -- Italian energy company Eni said Tuesday it would work through a partnership with General Electric to build a stronger portfolio in the renewable energy sector.

Eni said it aims to work with GE on a wide range of projects tied to low-carbon power options like solar power and wind.

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"Through this partnership, Eni aims to enhance its ability to implement projects in the renewable energy sector," the Italian company said in a statement.

GE had no public statement on the agreement with Eni. Last week, a marine division of GE said it would work with Danish energy company Maersk Drilling on a pilot program to use advanced digital technology for drilling operations. The collaboration with Maersk came less than a month after the oil and gas division of GE acquired a 62.5 percent stake in oilfield services company Baker Hughes.

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GE's oil and gas business has built up its position through acquisitions so that it's now one of the stronger divisions within the parent company. Last week, however, the company said that in British waters alone, there's $25 million committed to tidal power.

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Eni said it's been working in the renewable energy sector since the 1980s. In September, it said it was extending its pioneering work in Algeria by becoming the first company to wade into the solar energy field.

"This agreement [with GE], which is part of Eni's strategy of developing renewable energy by leveraging on the industrial and commercial synergies of its traditional activities, will help Eni to pursue the progressive decarbonization of its energy mix," the company said.

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