EIB provides €250 million energy efficiency financing to Italy's Italgas

en.Wedoany.com Reported - The European Investment Bank (EIB) has approved a €250 million, 15-year financing package to support energy efficiency upgrade projects by Italy's Italgas Group nationwide, and has signed the first €150 million loan. This loan marks the ninth collaboration between the EIB and Italgas, bringing the total EIB lending to Italgas to over €1.9 billion.

The agreement will support a series of small and medium-sized projects, planned for implementation between 2026 and 2029, to be executed by the group's energy service companies Geoside and Italgas Properties. Project types include energy efficiency retrofits of public and private buildings, related measures in the industrial sector, installation of self-consumption photovoltaic integrated systems, and modernization of public lighting infrastructure.

According to EIB estimates, the transaction is expected to save approximately 30.6 GWh of primary energy annually and generate about 21.5 GWh of primary energy per year from renewable sources, equivalent to the annual electricity consumption of around 8,200 Italian households. This financing aims to help accelerate the implementation of investment plans amid market volatility and complex trade dynamics.

EIB Vice President Gelsomina Vigliotti stated that this transaction consolidates the EIB's role in mobilizing resources in a fragmented market with significant funding needs, helping to channel funds to projects across Italy to enhance sustainability and generate long-term returns. Italgas CEO Paolo Gallo emphasized that energy efficiency is a means to reduce energy consumption while maintaining performance, and this financing will strengthen the development of solutions based on Geoside's proprietary technology and internal artificial intelligence systems.