- EIB financing to support the Dolomiti Energia Group’s Strategic Plan to 2030.
- 55% of the funds earmarked for new onshore wind farms in Campania and Puglia, and 45% for the development and modernisation of the electricity grid in Trentino
- Once operational, the new onshore wind farms will have a total installed capacity of 121 MW, enough to meet the annual energy needs of over 100,000 Italian households.
- The agreement is partly supported by InvestEU, the European Union’s investment plan.
The European Investment Bank (EIB) is providing €200 million in financing to the Dolomiti Energia Group to support its 2030 investment programme.
The agreement is backed 70.5% by the InvestEU guarantee and was announced today by Gelsomina
Vigliotti, EIB Vice-President, and Stefano Granella, CEO of the Dolomiti Energia Group.
The EIB financing, structured as a Green Loan, [1] will help deliver investments aimed at renewable energy production from onshore wind farms located in Campania and Apulia, cohesion regions, as well as the development, strengthening and modernisation of the electricity distribution network in the Autonomous Province of Trento.
In particular, the project involves the design, construction and operation of four onshore wind farms with a total installed capacity of 121 MW, capable of meeting the annual energy needs of around 100,000 Italian households, as well as the development of new power lines, substations and the upgrading of existing infrastructure – key investments to enable Italy’s energy transition.
This agreement will increase renewable energy generation capacity in Italy, strengthen the reliability and resilience of the electricity grid, and contribute to achieving the EU’s and Italy’s 2030 climate targets.
The agreement will also have a positive impact on employment in the country. It is estimated that around 500 people will be employed during the implementation phase of the investment projects.
“With this operation, the EIB reaffirms its commitment to accelerating Italy’s energy transition through investments in clean energy production and the upgrading of the distribution network, while also promoting economic development in the South and creating new jobs,” said Gelsomina Vigliotti, EIB Vice-President.
[1] The EIB’s “Green Loan” is granted for financing that contributes 100% to the Bank’s environmental sustainability and climate action objectives, in line with the ‘Green Loan Principles’