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MarketScreener Homepage  >  Equities  >  Italian Stock Exchange  >  Snam S.p.A.    SRG   IT0003153415

SNAM S.P.A.

(SRG)
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Snam and CVA: agreement to promote hydrogen and the energy transition in Valle d'Aosta

10/23/2020 | 04:15am EST

Turin, 23 October 2020 - Snam, one of the world's leading energy infrastructure companies, and Compagnia Valdostana delle Acque (CVA), a vertically integrated Italian operator with pure green production of hydroelectric, photovoltaic and wind power, have signed a collaboration agreement to create joint initiatives in green hydrogen and projects aimed at promoting the energy transition in Valle d'Aosta.

The agreement was signed by Snam's Chief Executive Officer Marco Alverà and by Enrico De Girolamo, CEO of CVA.
The collaboration will allow the two companies to combine their skills to identify initiatives to facilitate the decarbonisation of industry and transport, through the use of green hydrogen, as well as the broader energy sector in the region.

In particular, Snam and CVA will analyse projects to boost hydrogen mobility on iron and rubber, including through the construction of related infrastructure (such as filling stations, compressors, electrolysers) and will experiment with innovative technological solutions related to the production, transport, compression and storage of hydrogen, also participating in financing initiatives or public tenders.

The joint initiatives will also cover solutions for the decarbonisation of industrial processes with high thermal intensity, for the electrical and thermal supply of industrial structures and districts and for storage dedicated to electricity generation plants.

The projects will be carried out, in compliance with the regulatory and regulatory framework, under appropriate agreements negotiated separately.

Snam's Chief Executive Officer, Marco Alverà, commented: 'This collaboration strengthens our commitment to the decarbonisation of territories, leveraging innovative technological solutions and promoting the development of the hydrogen supply chain and its applications. Green hydrogen has a great potential for development in Italy and can play a decisive role in reducing emissions, particularly in industry and heavy transport. This is an opportunity not to be missed to contribute to the achievement of climate objectives and offer the country and its territories an opportunity for economic development and industrial leadership'.

Enrico De Girolamo, CEO of CVA, noted: 'The renewable hydrogen strategy, recently reinforced by the guidelines of the European Commission, is at the forefront of a future of climate neutrality. CVA's commitment today is to provide its renewable know-how to work on the development of innovative technologies, the availability of which will be able to make valuable contributions to the Italian decarbonisation roadmap, and foster the regional goal of an Aosta Valley fossil fuel free. It is with great interest that we launch today this partnership for the construction of a sustainable future'.

Disclaimer

SNAM S.p.A. published this content on 23 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 October 2020 08:14:06 UTC


© Publicnow 2020
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Sales 2020 2 689 M 3 214 M 3 214 M
Net income 2020 1 095 M 1 309 M 1 309 M
Net Debt 2020 12 575 M 15 030 M 15 030 M
P/E ratio 2020 14,2x
Yield 2020 5,35%
Capitalization 15 187 M 18 082 M 18 152 M
EV / Sales 2020 10,3x
EV / Sales 2021 10,1x
Nbr of Employees 3 080
Free-Float 57,0%
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Number of Analysts 19
Average target price 5,06 €
Last Close Price 4,69 €
Spread / Highest target 27,8%
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NameTitle
Marco Alverà Chief Executive Officer & Director
Nicola Bedin Chairman
Alessandra Pasini Chief Financial Officer
Cosma Panzacchi EVP-Digital Transformation & Technology
Francesco Gori Independent Non-Executive Director
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