ENI TAKERS? Italian oil major Eni may be cashing in some of its new green credentials. The 36 billion euro firm is looking to spin off its retail and renewable energy division and list a minority stake next year, according to Reuters. The move looks like a savvy way of taking advantage of lofty green energy valuations. The unit is targeting 4 gigawatts of installed renewable power by 2024. At the moment, such projects are fetching as much as $3 billion per GW, making the green division alone worth 10 billion euros, according to Breakingviews calculations. That’s before taking into account the retail business, which should make 750 million euros of EBITDA in 2024. Selling a minority stake would let Eni take a chunk out of its 17 billion euro debt pile or raise cash for future green investment. Given volatile markets, Chief Executive Claudio Descalzi shouldn’t hang around. (By Ed Cropley)