Italy: EIB provides €100 million to Dolomiti Energia for energy efficiency and combating climate change
- May 13, 2021 2:22 pm GMTMay 13, 2021 5:34 pm GMT
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LUXEMBOURG, 11 May 2021 /PRNewswire Policy/ -- Support will go to the modernisation and upgrading of the electricity distribution network, the installation of smart meters, street lighting and water networks
Around 335 000 people will benefit from the electricity grid and over 78 000 from the water network
The European Investment Bank (EIB) and Dolomiti Energia Group have signed a €100 million finance contract to support the company's 2021-2024 development plan.
The investment is in line with Italian and European energy and environment policies for achieving the objectives of the energy transition, decarbonisation and sustainable networks.
In particular, the resources will support Dolomiti Energia in projects to expand, modernise and upgrade electricity distribution networks, install smart and second-generation meters, renew and improve the performance of existing hydroelectric plants, make street lighting more efficient and improve the operational efficiency of water networks.
The investments generated by the financing will contribute to meeting energy needs, to sustainable and shared growth and to better access for Dolomiti Energia services in new areas of activity. In total, Dolomiti Energia has almost 335 000 customers connected to the electricity distribution network and over 78 000 to the water network. Most of its production and distribution activities are located in the Dolomites region - north-eastern Italy.
EIB Director for loans in Italy, Malta and the Balkans Miguel Morgado said: “As the climate bank, the EIB is ever more committed to supporting projects linked to combating climate change. The investment plan presented by Dolomiti Energia Group and to be implemented by 2024 includes actions in various sectors and aims to improve the efficiency and resilience of the services offered in the Autonomous Province of Trento. We are therefore very pleased to be able to assist a company with a strong connection to the local area and people.”
Chairman of Dolomiti Energia Group Massimo De Alessandri commented: “We are proud of the agreement reached with the EIB. For us it is an important acknowledgement of the value of our work and the quality of the projects that will be financed. The trust that the EIB has reaffirmed in our proposal for sustainable development, and for the first time without external guarantees, can only motivate us to continue on this path of steady growth.”
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SOURCE European Investment Bank