RAVENNA, Italy, April 9 (Reuters) - Eni expects

investors interested in a minority stake in its renewables and

retail arm, Plenitude, to value the business at more than 10

billion euros ($11 billion) including debt, one of the Italian

energy group's executives said on Wednesday.

Under its so-called satellite strategy, Eni plans to sell a

second minority stake in Plenitude after Swiss fund Energy

Infrastructure Partners (EIP) bought an initial stake that

valued the business at 10 billion euros.

"We have received binding offers for another Plenitude stake

... There are five bidders," Eni's Chief Transition and

Financial Officer, Francesco Gattei, said on the sidelines of an

energy conference in Ravenna.

Gattei said that recent market volatility triggered by U.S.

trade tariffs had not dented interest in Plenitude.

Eni has evaluated preliminary offers and will soon move to

the second phase of the process to seek binding bids and discuss

governance and contractual details, Gattei said.

The expectation is that there will be a premium compared

with the value established in the first transaction, he said

without commenting on media reports that mentioned a valuation

of up to 13 billion euros.

Eni last month sold 30% of its biofuel business Enilive to

U.S. fund KKR.

The Italian group's long-term strategy is opening up its

so-called satellite operations to outside investors including

investment funds and private equity firms to raise funds for

energy transition purposes.

Gattei said these satellite operations are expected to

generate about 13 billion euros of cashflow in the next four

years.

($1 = 0.9069 euros)

(Reporting by Francesca Landini

Editing by Gavin Jones, Alvise Armellini and David Goodman

)