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Framework loan to support a series of energy efficiency projects – such as heat pumps in buildings, public lighting and district heating – and renewable energy initiatives – including photovoltaic (PV) plants and onshore wind farms – to be developed by Edison during the period 2025 to 2028.
The aim is to support renewable energy and energy efficiency investments in Italy, contributing to the achievement of renewable energy, energy efficiency and decarbonisation targets in Italy and in the European Union. In addition, the project will deliver health benefits through improved air quality and positive social impact through job creation.
EIB's intervention will take the form of a framework loan to Edison, a well-known Promoter of EIB, to support renewable energy and energy efficiency projects in Italy.
The financing contributes to Italy's 2030 decarbonisation goals and it is expected to contribute to the REPowerEU+ action plan.
The Project is expected to bring about economic and social benefits by generating clean and renewable power (RE) and promoting energy efficiency (EE) by supporting the development of cost-effective solutions to reduce emission while contributing to the system's security of supply. In addition, the Project will support the economic recovery in the context of a subdued economic activity, fostering economic growth and qualified employment in the green sectors. The RE and EE projects are expected to benefit from existing regulatory and market-based instruments thereby contributing to the policy objective of supporting the market integration of renewable energy and energy efficiency projects.
The financing of this Project is in line with the Bank's lending priority objectives on Energy (Renewable Energy and Energy Efficiency) as well as the transversal objectives on Climate Action (mitigation), Environmental Sustainability (Pollution Prevention Control) and Social and Economic Cohesion.
The proposed Operation addresses the funding requirements of the Promoter by providing flexible terms for tenor, disbursement, and repayment profile, as well as a sizeable ticket. Importantly, the EIB funding serves as a strong signal of support for the Project and the Promoter's future investment programme, reinforcing confidence among other potential stakeholders and investors
This operation aims at generating environmental benefits by supporting projects that help mitigate climate change. The project is in line with the Bank's priority lending objectives for renewable energy and energy efficiency , and supports Climate Action and Environmental Sustainability objectives.
No procurement issues identified.