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Signature(s)

Amount
€ 320,000,000
Countries
Sector(s)
Italy : € 320,000,000
Energy : € 320,000,000
Signature date(s)
28/10/2024 : € 120,000,000
28/10/2024 : € 200,000,000
Link to source

Summary sheet

Release date
30 October 2024
Status
Reference
Signed | 28/10/2024
20240176
Project name
Promoter - financial intermediary
ACEA EFFICIENZA RETE IV
ARETI SPA
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 500 million
EUR 1232 million
Location
Sector(s)
  • Energy - Electricity, gas, steam and air conditioning supply
Description
Objectives

The project concerns the promoter's investment plan 2024-2027 for the modernisation and extension of the electricity distribution network in the municipality of Rome and Formello.

The aim is to replace obsolete infrastructure with modern and more efficient components to improve the electricity network resilience to climate events, ensure the overall stability and reliability of the distribution system as well as reduce the risk of supply interruptions. Such investments in the electricity network having a long-term economic lifetime will contribute to reduce GHG emissions by enabling the connection on new renewable energy sources, and the electrification of the economy based on low carbon energy, as per EU and national long-term climate and energy policies.

Additionality and Impact

The Project contributes to the Bank's lending priority objectives on "Climate Action and Environmental Sustainability" and aligns to REPowerEU objectives. The Project will also contribute to the "Energy Lending Policy" theme of "innovative technologies" and is aligned to the Italy's NECP ("National Energy and Climate Plan").

The planned investment aim at maintaining security of supply, efficiency and reliability of the service and enabling the connection of new renewable energy generation capacity over the period 2024-2027, reducing environmental impact such as carbon and pollution emissions.

The investment plan addresses the needs for the renewal of existing assets as well development of new lines, substations and "2G" smart metering.

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 geopolitical issues.


Environmental aspects
Procurement

The due diligence will focus on the promoter's capacity and capability to implement the investments in line with EIB environmental and social standards and requirements. Some investment schemes may fall under Annex II of the environmental impact assessment (EIA) Directive 2011/92/EU (as amended by Directive 2014/52/EU). However, the schemes to be financed have an operating voltage which is below the threshold for the screening set out in the national legislation as per the provisions of Article 4(3) of the EIA Directive.

The EIB will require the promoter to ensure that contracts for implementation of the project will be tendered in accordance with the applicable EU procurement legislation, 2014/25/EU as well as Directive 92/13/EEC or Directive 89/665/E as interpreted by the Court of Justice of the EU, with publication of tender notices in the EU Official Journal, as and where required.

Milestone
Under appraisal
Approved
Signed
16 October 2024
28 October 2024
Link to source

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

Environmental and Social Data Sheet (ESDS) - ACEA EFFICIENZA RETE IV
Publication Date
21 Nov 2024
Document language
Main Topic
Lending
Document Number
215577114
Document Focus
Environmental Information
Project Number
20240176
Sector(s)
Regions
Countries
Publicly available
Download now

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