Release date: 4 April 2022
Promoter – Financial Intermediary
POSTE ITALIANE SPALocation
Description
The project consists of the financing of Poste Italiane vehicle fleet renovation in the 2021-2026 period. The project covers the deployment of about 1 300 new zero emissions battery electric tricycles and quadricycles and about 2 850 new zero emissions battery electric cars and vans, focusing on last mile delivery in urban environment. The project also covers the installation of the associated charging points and information technology (IT) systems.
Additionality and Impact
The project concerns the roll-out of a major zero-emission mobility solution (vehicles, charging stations and integrated IT platform) with the goal of considerably reducing CO2 emissions especially for last-mile deliveries in urban environment.
The project contributes to the EIB's objectives of sustainable and decarbonised road transport thereby supporting EU policy objectives. The project is consistent with the EU Green Deal and the Sustainable and Smart Mobility Strategy as well as the Bank's CBR and its TLP. It mitigates negative externalities in the form of the reduction of GHG, air pollutants (Nitrogen Oxides, Particulate Matter) and noise emissions through the electrification of road transport in an urban context. These benefits are not fully captured by postal mail and parcel related tariffs.
The project has a 100% share of Climate Action and is eligible under Article 309 point (a) projects for developing less-developed regions and point (c) common interest. The EIB investment in the project support the 2030 targets set out in Italy's Integrated National Energy and Climate Plan released in December 2019.
The project is an essential component of the promoter's long-term strategy for a sustainable business development. The EIB's contribution to this investment in logistics decarbonisation is expected to materially contribute to the Promoter's effort to meet its ESG targets and crowd-in Green Finance investors.
Objectives
The project has the objective of reducing air pollution, reducing greenhouse gas emissions and lowering noise in urban areas. The project will also contribute to support the deployment of electric vehicles and their associated infrastructure.
Sector(s)
- Services - Transportation and storage
Proposed EIB finance (Approximate amount)
EUR 100 million
Total cost (Approximate amount)
EUR 145 million
Environmental aspects
The acquisition of electric vehicles and electrical charging points and deployment of IT systems does not fall under Annex I or Annex II of the Directive 2014/52/EU amending Directive 2011/92/EU on the assessment of the effects of certain public and private projects on the environment (EIA Directive).
Procurement
The Bank will require the Promoter to ensure that contracts for the implementation of the Project have been and will be tendered in accordance with the relevant applicable EU procurement legislation, in particular Directive 2014/25/EU, as implemented by national legislation and interpreted by the Court of Justice of the EU, with publication of tender notices in the Official Journal of the EU, as and where required.
Status
Signed - 31/03/2022
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).