EIB and Iren Group to modernize infrastructure in Italy
Among the most important operations financed from the resources are the maintenance, renewal and development of distribution facilities.
Image for illustration purposes.
Italy: The European Investment Bank (EIB) and the Iren Group have signed a $214.31 million financing agreement to develop and modernize the electricity infrastructure in the Italian municipalities of Parma, Turin and Vercelli. The most important operations financed from the resources made available by the EIB include the maintenance, renewal and development of distribution facilities, the installation of new smart meters and the construction of underground electricity substations to better deal with extreme heatwaves.
The aim is to enhance the performance and resilience of the grid to extreme climate change-related phenomena, and to promote the electrification of energy demand and the digitalization of services. The project should help Italy meet national energy and climate targets and those of REPowerEU, for which the EIB has allocated additional financing of $48.22 billion by 2027.
Source: T&D World
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