Italy continues to gallop towards global energy and environmental goals. The coexistence of fossil and renewable sources is becoming a success factor for investing companies. They gain confidence on the markets and aspire to become a model in Europe. Interesting signals do predict that the new government guidelines in terms of efficiency and production will affect those areas of the country that have remained behind so far. The increase in wind power – an interesting case – is definitely pointing to the South. Investment spending grew in 2017 and will not stop in 2018, when Edison will capitalize the 150 million euro loan from the European Investment Bank. In a few months it is the second major Italian distribution company to obtain such an important line of credit from the EIB.
In July it had granted 130 million euros to Terna for the “Piemonte-Savoia” electricity interconnection. This time it has opened a credit line for targeted investments in the southern regions to support community objectives. Therefore, if Terna is allied with French partners to strengthen the North West entry sector, Edison will concentrate its efforts in Southern Italy. In practice, 165 new megawatts of power to be installed by E2i energie speciali, a company owned by Edison and the F2i Fund. We will work in Abruzzo, Basilicata, Sicily, Puglia, Campania. And Campania last week revised its specific legislation of 2013. The 5 stars had contested some authorization choices, but now they will acknowledge that the proceedings will be faster and the investments will be made seriously. A good sign.
The financing actually comes with six construction sites already open, engaged in the reconstruction of existing plants or the construction of new ones. The impacts on the territory are twofold. The loan can be used in various tranches, each with a duration of 15 years. It has a 24-month availability but will have to take into account the planned investment plan and the times of commissioning. The other aspect concerns the increase in power which for Edison in the South is equivalent to increasing the plant portfolio up to a power of over 700 MW. The intertwining with the national energy strategy is evident and will allow the South to play a central role. Terna's October bulletin reports a 0,6% growth in photovoltaics.
Marc Benayoun, Chief Executive Officer of Edison, “the trust of the European Bank is characterized by the company's commitment in the field of renewables and by the choice of Southern Italy as a geographical area which has attracted an important industrial project. A thought also to the opponents of wind farms, very active in Puglia, Campania and Calabria. Will the number of wind turbines with contested visual and territorial impacts grow? Not exactly. New buildings shouldn't give an excuse to block work or file appeals. The reconstruction works of the existing fields will be able to use the technological evolution of the wind turbines to also increase the productivity of the plants. Edison declares that it is committed to this, with the consequence of seeing fewer blades on the Apennine mountains and ridges in the next few years. You have to have faith."
