The European Investment Bank (EIB) supports Italgas initiatives to reduce environmental pollution by improving the energy efficiency of residential buildings throughout the country.
The EIB has granted a €150m framework loan to Italgas to improve energy efficiency of thousands of homes across Italy. The programme will target over 4,000 homes and create an estimated 1,500 jobs while supporting the European Green Deal and Italy’s national energy and climate plans.
The financing is intended to help implement energy efficiency initiatives across Italy to cut atmospheric pollution and deliver health benefits in line with the Renovation Wave, which aims to double the energy renovation rate for European buildings by 2030. The EIB-financed initiatives will help to improve energy efficiency in approximately 4,500 homes.
The framework loan structure of the agreement includes mechanisms for allocating and disbursing funds to support the implementation of a wide range of small and medium-sized projects, offering particularly competitive terms and conditions.
EIB vice-president, Gelsomina Vigliotti, explained “Over 85% of Italian residential buildings are energy class D or below and need major investment. Projects like the one signed with Italgas today are key not only to reducing dependence on energy imports from third countries, but also to cutting energy use and therefore the bills of people in Italy.”
Italgas CEO Paolo Gallo added, “The best energy is the energy we don’t waste. This EIB financing will enable us to further strengthen our commitment to energy efficiency and the environmental transition, in line with the goals of the Italgas 2022-2028 strategic plan. Via our energy service company Seaside and technologies developed in-house, we offer the market and community cutting-edge solutions actively contributing to the achievement of the climate objectives of Italy and the European Union.”
Seaside is an Italgas Group company working on the energy efficiency of homes, businesses and public administrations sector. It contributes to achieving national energy efficiency targets and decarbonising consumption with its proprietary technologies.
