That received a grant of 500 million euros from the EIB, the European Investment Bank, and from Cassa Depositi e Prestiti to strengthen the electrical infrastructure of Areti, a subsidiary that manages the electricity distribution network of Rome and Formello.
The details of the agreement
As expected, theThe financing will be disbursed in two tranches. The first will be equal to 320 million of which 200 million granted directly by the EIB with a 70% Archimede Sace guarantee and 120 million euros by Cdp with funding made available by the EIB itself. The second tranche of 180 millionIt will be signed in 2025.
“The agreements signed today with EIB, CDP and Sace represent for Acea a system operation of particular strategic importance and certify the value and quality of the investments that the group has planned for the coming years in the electricity distribution networks – explains CEO Fabrizio Palermo – Investments will help achieve ever greater resilience and flexibility of infrastructures thanks to the use of new technologies, such as artificial intelligence”.
Funded interventions
The financed interventions, foreseen in the Areti plan in line with the objectives of REPowerEU, include the Strengthening of the low and medium voltage network of Rome to increase its resilience and available power also through the installation of new lines; the modernization of the medium and low voltage network to increase its safety through advanced diagnostics, remote control and automation; the expansion and strengthening of primary cabins; the smartization of the network for dynamic management, control over PODs with 2G smart meters and massive demand response through artificial intelligence and IoT platform.
Scannapieco: “From Cdp 13 billion for growth”
“The consolidated collaboration with the EIB, accompanied on several occasions also by the contribution of Sace, has allowed us over the years to support investments for approximately 13 billion destined for the economic growth of the territories' he observes Dario Scannapieco, CEO of Cassa Depositi e Prestiti adding that the financing to Acea confirms CDP's commitment to supporting the development and modernization of the country's infrastructure. "The modernization of electricity infrastructure is crucial not only to make the network more efficient and resilient, but also to encourage greater integration of renewable energy into the system," says Gelsomina Vigliotti, EIB Vice President, recalling that the institute has committed to making available 45 billion euros of additional financing by 2027 for the energy transition and the objectives of REPowerEU.
“We confirm our commitment to support investments for competitiveness on the national territory through the Archimede Guarantee such as the strengthening of Acea's electrical infrastructure – he concludes Alessandra Ricci, CEO of Sace – This new operation consolidates the strong synergy with institutional investors EIB and CDP in projects capable of producing a tangible impact on the Italian economic fabric”.
