- Under the REPowerEU initiative, the European Investment Bank (EIB) has provided a loan to A2A to support its electrification works and promote renewable energy use, thereby contributing to Italy’s decarbonisation efforts
The funds will be used to extend and modernise the electricity distribution infrastructure in Lombardy and will contribute to the achievement of national and EU decarbonisation targets by accelerating electrification. The EIB's €200 million loan to A2A is aligned with the REPowerEU goals of addressing growth in energy demand, increasing the use of renewables from a variety of energy sources and strengthening energy security.
A2A plans to upgrade and expand its electricity grids so it can offer a more efficient service and connect an estimated 40 000+ new customers by 2027, which will be key to the group’s objectives of accelerating electrification and increasing the use of green energy.
The financing will be used to extend A2A's medium-voltage network by more than 200 km and upgrade 247 km of existing power lines, add around 86 km of new low-voltage lines and replace a 152 km stretch of the existing low-voltage network. A2A also plans to build a new primary electrical substation and 286 new secondary substations, renovate and expand 12 primary substations already in operation and upgrade 423 existing secondary substations.
This transaction underlines the EIB’s commitment to supporting the aims of Italy’s National Energy and Climate Plan and those of REPowerEU, for which the EIB has earmarked additional financing of €45 billion between 2022 and 2027. For A2A, the works to be funded by the EIB financing are consistent with the strategy outlined in its business plan and will help it achieve its goal of making a real contribution to Italy's energy transition and decarbonisation.
EIB Director of Operations in Italy Gilles Badot said: “This initiative, which supports the goals of REPowerEU and boosts European energy security, demonstrates the EIB’s commitment to its role as the EU climate bank. In providing financing to A2A, we aim to contribute to sustainable growth, emission reductions and the development of a next-generation electrical power system in Italy.”
A2A CFO Luca Moroni said: “This financing will enable A2A to launch an investment programme designed to extend and modernise our electricity distribution infrastructure. This initiative further underlines the group’s commitment to contributing to sustainable development in our areas of operation and implementing our energy transition strategy.”
EIB
The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It provides long-term financing for sound investments that contribute to EU policy. The Bank finances projects in four priority areas: infrastructure, innovation, climate and environment, and small and medium-sized enterprises (SMEs). Between 2019 and 2022, the EIB Group provided more than €45 billion in financing for projects in Italy.
A2A
A2A is listed on the stock market and has more than 13 000 employees. It operates in the generation, sale and distribution of electricity and the sale and distribution of gas, as well as district heating, waste collection and disposal, e-mobility and smart services for cities, public lighting and integrated water services. Sustainability is the focus of A2A’s strategy: to support sustainable growth in Italy and make a real contribution to the energy transition and the circular economy, the group’s business plan includes investment of €16 billion by 2030 in projects aligned with the SDGs of the UN 2030 Agenda.