Release date: 26 June 2025
Promoter – Financial Intermediary
FERROVIE DELLO STATO ITALIANE SPALocation
Description
The project involves the subscription of Green Bonds to co-finance eligible investments in sustainable mobility, as promoted by Ferrovie dello Stato Italiane under its Green Bond Framework.
Objectives
The objective is to enhance the quality, availability, and reliability of rail services in Italy, leading to savings in time and vehicle operating costs, a reduction in infrastructure maintenance expenses, and an improvement in railway safety. The project aims to promote a modal shift from road to rail, providing environmental and road safety benefits while contributing to the advancement of sustainable transport in alignment with EU objectives. The proceeds under the green bond framework focus on electric railway infrastructure and rolling stock, therefore they are in line with the criteria for substantial contribution to tackle Climate Mitigation under the EU Taxonomy. Consequently, the project supports Climate Action and Environmental Sustainability (CA&ES) objectives outlined in the Climate Bank Roadmap. Some project components are expected to be located along lines within the Trans-European Network (TEN-T), while others will be located in less developed or transition regions, thereby supporting cohesion objectives.
Comments
In line with similar operations targeting the purchase of Green Bonds, the pipeline of eligible investments is not known at the moment of appraisal. Total Project Costs is a preliminary estimate of the Bank of the potential pipeline of future eligible projects that the Promoter is expected to allocate under the future Green Bond issuances
Sector(s)
- Transport - Transportation and storage
Proposed EIB finance (Approximate amount)
EUR 300 million
Total cost (Approximate amount)
EUR 600 million
Environmental aspects
The project will have a positive environmental impact by supporting railways in maintaining and enhancing their modal share in crucial areas of the passenger and freight market that are best suited for rail transport. All projects financed with the bond proceeds will comply with the criteria of the EIB's Climate Action and/or CA&ES objectives.
Procurement
The promoter shall ensure that contracts for the project implementation have been tendered in accordance with the applicable EU procurement legislation, Directives 2014/23/EU, 2014/24/EU, 2014/25/EU as well as Directive 92/13/EEC or Directive 89/665/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.
Status
Signed - 18/06/2025