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Italy secures €500m loan from EIB, Enel
Aya El Sayed Published in Amwal Al Ghad on 28 - 11 - 2024

The European Investment Bank (EIB) and Enel Group's E-Distribuzione have signed the first €250 million tranche of a €500 million sustainability-linked loan to support Italy's energy transition.
The funding will enhance innovation and digitalisation of Italy's power grid, boosting resilience to climate events and improving electricity service quality.
EIB Vice-President Gelsomina Vigliotti highlighted the bank's role in funding Enel's decarbonisation, noting the loan's potential to cut CO2 emissions and advance renewable energy use.
Enel CFO Stefano De Angelis stressed the strengthened partnership with the EIB and the pivotal role of energy networks in accelerating the transition, backed by planned investments in Enel's 2025-2027 Strategic Plan.
The loan's terms are tied to Enel's greenhouse gas emission targets: a direct CO2 emission rate of 125 gCO2eq/kWh by 2026 or 72 gCO2eq/kWh by 2030, and aligning at least 80 per cent of capital expenditure with the EU taxonomy by 2026.
The financing is part of EIB's RePowerEU initiative, which aims to mobilise €150 billion to reduce Europe's fossil fuel dependency by 2027.
Attribution: The European Investment Bank (EIB)
Subediting: M. S. Salama

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