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Eni (E) and KMG Commence 250 MW Hybrid Plant in Zhanaozen
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Eni SpA (E - Free Report) , an Italian energy giant, and the National Company KazMunayGas (“KMG”) have announced the initiation of construction of their joint 250 MW Hybrid Renewables-Gas Power Plant Project in Zhanaozen, Mangystau Region, Kazakhstan. This initiative marks the foundation of Kazakhstan’s first hybrid power plant, integrating solar, wind and gas power to supply low-carbon, stable electricity to KMG subsidiaries in the region.
The project also aligns with Eni's decarbonization strategy and demonstrates a joint commitment to leveraging cutting-edge technologies for a sustainable future in the Mangystau Region.
The hybrid power plant will combine state-of-the-art renewable energy systems, developed in collaboration with Eni’s subsidiary Plenitude, with a gas power plant to balance and stabilize electricity production. This innovative approach leverages Eni’s extensive international industrial expertise to deliver a reliable and environmentally friendly energy solution.
Eni has a long-standing presence in Kazakhstan (since 1992), where it is a joint operator of the Karachaganak field and holds equity stakes in several projects in the Northern Caspian Sea, including the Kashagan offshore field. Additionally, Eni is a joint operator with KMG in the exploration block Abay. In the renewables sector, E operates through Arm Wind, a Plenitude subsidiary, with a total installed capacity of 150 MW in Kazakhstan.
The construction of the 250 MW Hybrid Renewables-Gas Power Plant represents a significant step toward a low-carbon future, showcasing the potential for hybrid energy solutions in meeting regional energy needs while reducing environmental impact.
Sunoco is a leading wholesale motor fuel distributor in the United States, boasting a vast distribution network spanning 40 states. With long-term contracts servicing more than 10,000 convenience stores, it distributes over 10 fuel brands, ensuring a stable revenue stream. SUN currently has a Value Score of A.
The Zacks Consensus Estimate for 2024 and 2025 earnings per unit is pegged at $7.29 and $7.17, respectively. The partnership has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 60 days.
SM Energy is set to expand its oil-centered operations in the coming years, with an increasing focus on crude oil, especially in the Permian Basin and Eagle Ford regions. The company’s attractive oil and gas investments should create long-term value for shareholders.
The Zacks Consensus Estimate for SM’s 2024 EPS is pegged at $7.15. The company has a Zacks Style Score of A for Value. It has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 30 days.
Hess is a leading oil and natural gas exploration and production company that made several world-class oil discoveries in the Stabroek Block, located off the coast of Guyana. The company is currently in the process of being acquired by supermajor Chevron in an all-stock deal worth $53 billion. The merger will likely result in the creation of an energy behemoth with a massive portfolio of producing assets.
The Zacks Consensus Estimate for HES’ 2024 EPS is pegged at $10.52. The company has a Zacks Style Score of B for Growth. It has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 30 days.
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Eni (E) and KMG Commence 250 MW Hybrid Plant in Zhanaozen
Eni SpA (E - Free Report) , an Italian energy giant, and the National Company KazMunayGas (“KMG”) have announced the initiation of construction of their joint 250 MW Hybrid Renewables-Gas Power Plant Project in Zhanaozen, Mangystau Region, Kazakhstan. This initiative marks the foundation of Kazakhstan’s first hybrid power plant, integrating solar, wind and gas power to supply low-carbon, stable electricity to KMG subsidiaries in the region.
The project also aligns with Eni's decarbonization strategy and demonstrates a joint commitment to leveraging cutting-edge technologies for a sustainable future in the Mangystau Region.
The hybrid power plant will combine state-of-the-art renewable energy systems, developed in collaboration with Eni’s subsidiary Plenitude, with a gas power plant to balance and stabilize electricity production. This innovative approach leverages Eni’s extensive international industrial expertise to deliver a reliable and environmentally friendly energy solution.
Eni has a long-standing presence in Kazakhstan (since 1992), where it is a joint operator of the Karachaganak field and holds equity stakes in several projects in the Northern Caspian Sea, including the Kashagan offshore field. Additionally, Eni is a joint operator with KMG in the exploration block Abay. In the renewables sector, E operates through Arm Wind, a Plenitude subsidiary, with a total installed capacity of 150 MW in Kazakhstan.
The construction of the 250 MW Hybrid Renewables-Gas Power Plant represents a significant step toward a low-carbon future, showcasing the potential for hybrid energy solutions in meeting regional energy needs while reducing environmental impact.
Zacks Rank & Key Picks
E currently has a Zack Rank #5 (Strong Sell).
Investors interested in the energy sector may look at some better-ranked stocks like Sunoco LP (SUN - Free Report) , SM Energy Company (SM - Free Report) and Hess Corporation (HES - Free Report) . While Sunoco and SM Energy sport a Zacks Rank #1 (Strong Buy) each, Hess carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Sunoco is a leading wholesale motor fuel distributor in the United States, boasting a vast distribution network spanning 40 states. With long-term contracts servicing more than 10,000 convenience stores, it distributes over 10 fuel brands, ensuring a stable revenue stream. SUN currently has a Value Score of A.
The Zacks Consensus Estimate for 2024 and 2025 earnings per unit is pegged at $7.29 and $7.17, respectively. The partnership has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 60 days.
SM Energy is set to expand its oil-centered operations in the coming years, with an increasing focus on crude oil, especially in the Permian Basin and Eagle Ford regions. The company’s attractive oil and gas investments should create long-term value for shareholders.
The Zacks Consensus Estimate for SM’s 2024 EPS is pegged at $7.15. The company has a Zacks Style Score of A for Value. It has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 30 days.
Hess is a leading oil and natural gas exploration and production company that made several world-class oil discoveries in the Stabroek Block, located off the coast of Guyana. The company is currently in the process of being acquired by supermajor Chevron in an all-stock deal worth $53 billion. The merger will likely result in the creation of an energy behemoth with a massive portfolio of producing assets.
The Zacks Consensus Estimate for HES’ 2024 EPS is pegged at $10.52. The company has a Zacks Style Score of B for Growth. It has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 30 days.