Plenitude, Eni's renewables and electricity and gas sales subsidiary, is ready for the stock exchange but is waiting for the right conditions to proceed.

CEO Stefano Goberti said this on the sidelines of an event in Zurich.

Of the listing "there is always talk about it, when we will do it is not known. We are ready, of course we have to verify well the market conditions. When the conditions are in our view good, we will definitely go for the listing," Goberti said.

Two years ago Eni decided to postpone Plenitude's IPO due to market volatility. Last December, Eni opened Plenitude's capital to Energy Infrastructure Partners (Eip), which will have 9 percent in a deal that values the company at 10 billion euros, including debt.

"We need a market that is not excessively volatile, that there is a receptive equity market (...). We have started to see the first IPOs around the world and in Europe. Let's say that in our sector more related to renewables and energy transition still the sun is pale," Goberti continued.

"So let's wait for a little bit warmer sun and surely we can launch. We are ready," he concluded.

(Francesca Landini, reporting Gianluca Semeraro, editing Claudia Cristoferi)