Übersicht
The loan will support the promoter's investment plan to modernise and expand the electricity distribution network in north-eastern Italy. The project will be implemented between 2025 and 2029.
The aim is to improve the network's resilience to adverse climate events and improve the overall stability and reliability of the distribution system.
The Project helps fill the growing investment gap in European electricity grid infrastructure, which is needed to support the "European Energy Transition", as identified, among others, in the "EU Clean Industrial Deal", the "EU Affordable Energy Action Plan", and the "EU Grid Action Plan".
The Promoter's capex plan includes investments in electricity distribution. The planned investments aim at maintaining security of supply, efficiency and reliability of the service, in the context of increased electrification and growing integration of electricity production from renewable energy sources.
The Project is expected to contribute to Bank's lending priority objectives on "Climate Action and Environmental Sustainability" and it aligns with the REPowerEU objectives. The financing of the Project will contribute to the Bank's "Energy Lending Policy" themes on "Securing the Enabling Infrastructure" (energy networks).
The operation addresses a number of market failures, including increasing security of energy supply, and the integration of low-carbon generation, which reduces carbon emissions and air pollution, with positive climate and health externalities.
The Project is expected to deliver good economic and social benefits.
The Promoter is experienced in works of this nature and has a sound project management system in place.
The EIB support to the Project will bring a tangible financial value added by lowering the associated cost of funding and offering a tenor longer than the one normally proposed by other financers. Considering the magnitude of the Project, the EIB support will also contribute to accelerate its implementation. The value added provided by the EIB is even more tangible under the current volatile market conditions, impacted by the ongoing trade conflict and geopolitical issues.
Where and if applicable, and based on a risk-based approach as defined in the EIB Group Environmental and Social policy, the requirements of the Environmental Impact Assessment (EIA) Directive 2011/92/EU (as amended by Directive 2014/52/EU), Birds Directive 2009/147/EC and Habitats Directive 92/43/EEC will be checked during appraisal.
The Promoter shall ensure that contracts for the project implementation are tendered in accordance with the applicable EU procurement legislation, Directives 2014/25/EU where applicable, as well as Directive 92/13/EEC as interpreted by the Court of Justice of the EU, with publication of tender notices in the EU Official Journal, as and where required.