The main interventions, promoted by Renovit, a company of the Snam Group, include the energy requalification of public buildings, residential buildings and the energy efficiency of industrial activities.
It is estimated that the measures financed by the EIB will help generate energy savings equal to the annual consumption of over 10,000 Italian families.
The financing is in line with the objectives of REPowerEU, which the EIB has committed to support with €45 billion of additional investments by 2027.
The European Investment Bank (EIB) and Snam have signed a loan for a total of 100 million euros aimed at supporting energy requalification interventions for public buildings and energy efficiency measures for industrial activities. This is a framework loan that can be used in several tranches within a period of 3 years. Each tranche will have a maximum overall duration of 15 years.
These projects, which will be developed by Renovit, a Snam Group company dedicated to energy efficiency, will help improve the energy efficiency of over 400 public and private buildings in Italy, as well as producing clean energy for a total capacity of approximately 24 MW thanks to the installation of solar panels. According to EIB estimates, these interventions will help produce renewable energy equal to the annual energy consumption of over 10,000 Italian families and will generate annual energy savings of 84 GWh.
This project further consolidates the more than ten-year relationship between the EIB and Snam, with existing financing totalling almost 1.5 billion euros. The financing is in line with the European Union's climate objectives and those of the planREPowerEU, which the EIB has committed to support with €45 billion of additional investments by 2027.
"This agreement represents a significant step towards a greener and more sustainable future for Italy, helping to reduce the environmental impact of buildings, which are responsible for around 40% of total CO2 emissions in Europe,” said EIB Vice-President Gelsomina Vigliotti. “Promoting energy efficiency measures is essential to ensure European energy autonomy and to reduce the cost of bills for citizens and businesses.”
“ The financing granted by the EIB is a further, important step in the sustainable finance path undertaken by Snam over the years and for which we have set ambitious goals,” commented Luca Passa, Chief Financial Officer of Snam . “We are particularly pleased with the EIB’s support because it recognizes the concrete commitment of the Snam Group in contributing to the country’s energy transition, in this case through structural interventions that will make public and industrial buildings even more sustainable.”
