Eni Concludes Construction of 200 MW Battery Storage System in Texas

Eni S.p.A E, an Italian integrated energy company, has completed the construction of its largest battery storage system, the Guajillo plant, in Webb County, TX. The plant was constructed under Plenitude’s subsidiary Eni New Energy U.S. Inc. Plenitude is the renewable energy wing of Italian energy giant, Eni.The facility is expected to start commercial operation by the first half of 2025.The Guajillo plant, equipped with lithium-ion LFP batteries, has been built to provide power supply when the market demand is at its peak. The plant has an estimated total capacity of 200 megawatts and it significantly adds to Eni’s installed generation capacity from renewable energy sources. Eni New Energy U.S. mentioned that large lithium-ion batteries are being rapidly adopted and are a fast-growing technology. This technology is rapidly enabling the integration of renewable energy into electrical systems.The plant is strategically located adjacent to one of Plenitude's largest solar energy farms, the Corazon Solar Farm. This proximity should allow the company to strengthen its presence in the region and maximize operational synergies from the two renewable energy facilities. The company operates on an 800-hectare site in this region.Eni mentioned that Guajillo shall play a critical role in stabilizing the local power grid, thereby enhancing power efficiency in the region. The company noted that the region is currently experiencing a substantial increase in electricity generation from renewable energy sources. Guajillo is well-positioned to capitalize on this increase in power generation.The completion of the lithium-ion battery storage project positions Plenitude as an emerging leader in the renewable energy space and strengthens its presence in the renewable energy market in the United States. Plenitude has reached an installed capacity of 1.5 gigawatts in the country.E’s Zacks Rank and Key PicksE currently carries a Zacks Rank #3 (Hold).Some better-ranked stocks from the energy sector are Sunoco LP SUN,TechnipFMC plc FTI and Cheniere Energy, Inc. LNG. Sunoco currently sports a Zacks Rank #1 (Strong Buy), while TechnipFMC and Cheniere Energy carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.Sunoco LP is one of the largest distributors of motor fuel in the United States. The partnership distributes fuel to independent dealers, commercial customers, convenience stores and distributors. Its current distribution yield is greater than that of the industry's composite stocks, providing unitholders with consistent returns.TechnipFMC is a leading manufacturer and supplier of products, services and fully integrated technology solutions for the energy industry. The company’s total backlog witnessed a high of $14.7 million in the third quarter of 2024, indicating an 11.1% increase from the previous year’s level. This growing backlog ensures strong revenue growth for FTI.Cheniere Energy is involved in LNG-related businesses, which include LNG terminals and natural gas marketing. The company has achieved a milestone with the first production of liquefied natural gas from the first LNG train of its Corpus Christi Stage 3 Liquefaction Project. The project, which includes seven midscale LNG trains, aims to expand the production capacity of the Corpus Christi Liquefaction facility. This expansion is expected to enhance Cheniere's position in the rapidly growing global LNG market, enabling the company to meet the rising demand for LNG, both in the United States and internationally.Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Eni SpA (E): Free Stock Analysis Report TechnipFMC plc (FTI): Free Stock Analysis Report Sunoco LP (SUN): Free Stock Analysis Report Cheniere Energy, Inc. (LNG): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks