The Italian energy company Eni is preparing to sell a 20% stake in the Eni Life biorefining unit. With the aim of raising money to finance its plans to transition to gas and renewable energy.

Informed sources said that Eni has received offers of interest from potential investors, and is currently working with consultants to evaluate the value of the unit, which is estimated at approximately 10 billion euros.

This step comes within the framework of Eni's broader strategy to restructure and redirect its investments towards clean energy sources.

Enilife has a broad portfolio of assets including biorefining and biomethane, and has demonstrated strong financial performance; It achieved EBITDA of €250 million in the first quarter of 2024, registering a 27% increase over the same period last year.

The sale of a stake in Eni Life is a decisive step within Eni's broader plan to separate its carbon capture unit and the biochemical company Novamont by 2027.