Italy: EIB lends EUR 380 million for the Enel network
The European Investment Bank (EIB) and Enel s.p.a. signed in Rome a EUR 380 million loan for financing the power utility’s 2012-2014 programme of investment in its distribution network.
Such investments by Enel Distribuzione will serve to bolster and extend the network and the power load capacity of the existing lines, ultimately benefiting the entire domestic grid. Specifically, the main goal of the project is to connect 240 000 new users, many of whom are represented by small and medium-sized generators via renewable sources of electricity. More than a third of the new connections (37%) will be in southern Italy.
In technological terms, Enel Distribuzione’s project is state-of-the-art thanks to the make-up of the components to be used to establish smart grids and improve the existing traditional grids (tension sensors; actuators to interrupt and re-establish electrical current both under normal operating conditions and when there is a breakdown; innovative microprocessor protection systems, static storage systems and grid regulation systems; WiFi communications infrastructure, WiMax and fibre optics to support operating systems, emergency management and opportunity management). These are mostly known technologies like BAT (best available technologies) and sometimes NAT (not available technologies) in keeping with the technical definitions used in the sector in Europe.
Enel’s investment programme concerns some of the traditional sectors of activity of the bank of the European Union, e.g. project financing in EU Convergence areas (including some southern Italian regions) and support for power transmission networks. The operation signed today confirms the long, fruitful cooperation between the Enel Group and the EIB.