These projects, which will be developed by Renovit, a Snam Group company dedicated to energy efficiency, will help to improve the energy efficiency of more than 400 public and private buildings in Italy and produce clean energy, with a total capacity of around 24 MW after the installation of solar panels.
According to EIB estimates, these initiatives will help to produce renewable energy equal to the annual energy consumption of more than 10,000 Italian households and generate yearly energy savings of 84 GWh.
This project further strengthens the decade-long relationship between the EIB and Snam, with outstanding financing agreements totaling nearly €1.5 billion. The financing agreement is in line with the European Union's climate objectives and the REPowerEU plan, which the EIB has committed to support with €45 billion in additional investment by 2027.
"This agreement is a major step towards a greener, more sustainable future for Italy, helping to lower the environmental impact of buildings, which are responsible for some 40% of total CO2 emissions in Europe," commented Gelsomina Vigliotti, Vice President of the EIB. "Promoting energy efficiency measures is essential to ensure European energy autonomy and lower people's and businesses' energy bills."
"This loan from the EIB is another important step in the sustainable finance path Snam has undertaken in recent years and for which we have set ambitious goals," commented Luca Passa, Snam's Chief Financial Officer. "We are particularly pleased with the EIB's support because it recognizes Snam’s concrete commitment to assist in Italy's energy transition, in this case through structural initiatives that will make public and industrial buildings even more sustainable."
