By Maryana Ahmadova
Copyright trend
BAKU, Azerbaijan, September 22. Eni and
Commonwealth Fusion Systems (CFS) have expanded their strategic
partnership with a power purchase agreement (PPA) worth over $1
billion, under which Eni will acquire decarbonized power from CFS’s
400 MW ARC fusion plant in Chesterfield County, Virginia, Trend reports.
According to Eni, the plant is expected to connect to the grid
in the early 2030s.
“This agreement demonstrates the value of fusion energy on the
grid and reflects Eni’s long-standing support for our technology,”
said CFS CEO Bob Mumgaard. Eni CEO Claudio Descalzi called the deal
a turning point for commercial fusion, highlighting its potential
as a clean, safe, and virtually limitless energy source.
Eni has been a strategic shareholder in CFS since 2018 and
increased its investment in the company during CFS’ recent $863
million Series B2 round. The collaboration includes technological
support, operational guidance, and knowledge sharing to accelerate
fusion energy development.
CFS has made significant advances in high-temperature
superconducting magnets and is progressing with the SPARC fusion
demonstration machine in Massachusetts, validating its path toward
commercial fusion power.
