(Alliance News) - The European Investment Bank and Edison issued a joint statement on Friday announcing that the EIB is supporting Edison's investment plan to promote the energy transition in Italy with financing of up to EUR800 million.
The EIB's resources will be allocated through the signing of several loan agreements: the first, worth EUR 200 million, was signed today.
The financing, structured in several loan agreements to be signed over the next few years, will help strengthen Edison's development plan in the renewable energy, energy efficiency, and public lighting sectors.
The EIB financing will cover more than the usual 50% of the total cost of the projects, thanks to the contribution of a large part of them to the REPowerEU objectives, allowing the EU Bank to finance up to 75% of the total cost, in line with its "Energy Lending Policy."
Edison's stock is down 1.2% to EUR2.45 per share.
By Michele Cirulli, Alliance News Reporter
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