EIB invests €440m in green Italian energy

10 Dec 2010

The European Investment Bank (EIB) has announced that it and Enel Green Power (EPG) signed the first €440m instalment of a €600m loan, financing the company’s three-year investment programme in Italy.

The operation concerns EGP’s 2011-2013 investment programme that centres on the installation of 840 megawatts (MW) of new renewable energy through the construction of small and medium-scale wind farms and photovoltaic plants in 50 locations throughout Italy.

Energy sector

The loan has been granted as part of the EIB’s priority action areas – financing projects in the energy sector that contribute to generating energy from alternative sources.

The operation is expected to contribute to the implementation of the European Union’s carbon targets that propose a 20pc reduction of carbon emissions by 2020.