Summary sheet
Framework loan to support a pipeline of small to medium-sized renewable energy, energy efficiency and biomethane projects in Italy.
The loan will support the development of renewable energy projects in Italy, contributing to renewable energy targets in the country and consequently in the European Union.
The EIB investment in the project will support the construction of new renewable energy (RE) capacity in Italy, crucial for the achievement of the 2030 targets set out in the final National Energy and Climate Plan.
In addition, as the majority of the RE investments (around 70%) are located in EIB Cohesion Priority Regions, the Bank also contributes to economic and social cohesion in rural areas with unemployment rates above the EU average and scarce employment opportunities.
The promoter will play the role of aggregator for small energy projects. Therefore, this operation addresses the market failures that limit access to finance to small renewable energy projects, despite the pivotal role they play in contributing to EU energy policy objectives and in the decarbonisation strategy to achieve Paris goals.
Moreover, as the Wind and solar PV projects produce electricity from low carbon sources they address the market failure of negative climate and environmental externalities, through the reduction of carbon and air pollution (compared to fossil fuel generation).
Similarly, the production of biogas for direct grid injection will contribute to the transition to low-carbon gas and thereby reducing carbon externalities, which is a significant challenge to the industry, and the progressive replacement of natural gas or liquid fossil fuel in transportation. The use of agricultural and animal husbandry waste and the organic fraction from solid urban waste as feedstock for the production of biomethane contributes to the circular economy objective. The operation will also contribute to the pollution prevention and control objective given that it will enable the shift from polluting (fossil fuel) to non-polluting or less polluting energy production.
The EIB financing accelerates the implementation of the underlying projects as it contributes to their bankability by lowering their cost of funding and offering a tenor longer than the one usually proposed by other financers. The EIB support to the project will also contribute to crowding-in other financers, sending a positive signal to the market regarding soundness of the underlying schemes.
The investments will generate environmental benefits in terms of reduction of air pollutants and greenhouse gas (GHG) emissions, ultimately helping to mitigate climate change. They are expected to have limited social and environmental impacts and any such impact is expected to be mitigated. The Bank will assess the capacity and procedures of the financial intermediary to ensure compliance with the national and European legislation.
The majority of the schemes are expected to be developed by private entities/promoters that are not subject to EU Procurement Directives. For those schemes where public procedures would apply, the financial intermediary will be required to confirm that procurement is carried out in line with the requirements for public sector projects under the relevant national and EU legislation.
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).
Documents
General enquiries and comments
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Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.
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Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.
Zero tolerance against fraud and corruption
The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.
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