SNAM S.P.A. TAGS Energy Efficiency, EIB
The contract relates to Renovit Group initiatives in the residential and industrial sectors
San Donato Milanese (Milan, Italy), 16 th June 2021 - Snam has signed a 150 million euros loan agreement with the European Investment Bank (EIB) to support the Group's energy efficiency projects for residential and industrial sectors.
The contract relates to initiatives totalling 200 million euros planned by the Renovit Group, the new energy efficiency platform controlled by Snam and part-owned by CDP Equity. The financing takes the form of a framework loan, which can be used in several tranches over a period of three years. Each tranche will have a maximum total tenor of 15 years.
The funded activities mainly consist of energy requalification of residential buildings and energy efficiency and decarbonisation measures for industrial activities, including the installation of solar panels.
Renovit, 70% owned by Snam and 30% by CDP Equity, promotes energy efficiency in condominiums, companies and public administration, contributing to the achievement of domestic energy efficiency targets for 2030 and the decarbonisation of the economic system.
The financing provided by the EIB to Snam is in line with the European Union's energy priorities and climate targets and is fully compatible with the EU taxonomy for sustainable activities, more specifically on the development of energy efficiency projects for condominiums and industrial activities.
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SNAM S.p.A. published this content on 16 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 June 2021 08:29:02 UTC.
