Enel Distribuzione, a subsidiary of Enel (+4,37%), yesterday signed a loan agreement with the European Investment Bank (EIB) for 380 million euros aimed at covering part of the investments connected to the efficiency measures of the electricity grid envisaged in Enel Distribuzione's industrial plan for the period 2012-2014. More than 37% of the interventions are planned in Southern Italy.
The goal is to strengthen the national electricity distribution grid. In particular, the interventions will allow the connection of distributed generation plants from renewable sources and the improvement of the quality of the service, with a reduction in the duration and number of outages for each customer.
The loan, guaranteed by the parent company Enel, will have a duration of 20 years (maturity in 2032), a pre-amortisation of 5 years (until 2018) and will be disbursed by the end of 2012. The economic conditions provide for the application of a margin of 155 basis points on the Euribor for the period.
