EIB grants €120 million to AGSM AIM to modernise Veneto power grids and support REPowerEU goals

EIB grants €120 million to AGSM AIM to modernise Veneto power grids and support REPowerEU goals

(IN BRIEF) EIB and AGSM AIM signed a €120 million loan to strengthen and modernise electricity grids in Vicenza, Verona and Grezzana. Implemented by V-RETI S.p.A., the investment will enhance efficiency, resilience and sustainability, supporting EU decarbonisation, digitalisation and REPowerEU objectives. The financing can be drawn in full or in tranches. EIB Vice-President Gelsomina Vigliotti highlighted the bank’s commitment to resilient, sustainable grids, while AGSM AIM’s Alessandro Russo said the deal confirms the company’s strategy to modernise its core areas and ensure dependable, future-proof power for residents and businesses.

(PRESS RELEASE) LUXEMBOURG, 23-Jul-2025 — /EuropaWire/ — The European Investment Bank (EIB) and AGSM AIM have signed a €120 million financing agreement to upgrade and reinforce the electricity networks serving Vicenza, Verona and Grezzana in Italy’s Veneto region. Managed by the group’s V-RETI S.p.A. unit, the programme targets grid modernisation and higher reliability, delivering tangible benefits for local households and businesses.

The loan — drawable either in a single instalment or in several tranches — supports projects that boost operational efficiency, resilience and environmental sustainability, fully aligned with EU decarbonisation and digitalisation goals and the REPowerEU agenda. By making the local system smarter and sturdier, the investment will help the region handle the dual challenge of the green transition and accelerating digital demand.

“Our signature underlines how concretely we are supporting investments that make power grids more modern, sustainable and resilient, to the benefit of communities and Italy’s energy transition,” stated EIB Vice-President Gelsomina Vigliotti.

AGSM AIM Managing Director Alessandro Russo emphasised the strategic value of the plan: “Securing this EIB funding reaffirms our decision to keep investing in our historic operating territories, bringing them up to date and making them greener. These technical works are essential to guarantee residents and companies a robust, future-ready power supply. Backing from an institution like the EIB validates our business plan and our capability to drive the national transition.”

Background information

The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. It finances investments that contribute to EU policy objectives. EIB projects bolster competitiveness, drive innovation, promote sustainable development, enhance social and territorial cohesion, and support a just and swift transition to climate neutrality. In the last five years, the EIB Group has provided more than €58 billion in financing for projects in Italy. All projects financed by the EIB Group are in line with the Paris Climate Agreement. The EIB Group does not fund investments in fossil fuels. We are on track to deliver on our commitment to support €1 trillion in climate and environmental sustainability investment in the decade to 2030 as pledged in our Climate Bank Roadmap. Over half of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation and adaptation, and a healthier environment. Approximately half of the EIB’s financing within the European Union is directed towards cohesion regions, where per capita income is lower.

AGSM AIM Group provides essential services to individuals and products of high added value for the development of businesses, entities and institutions. It operates in the electrical energy, gas, district heating, energy efficiency, street lighting, telecom services, electric mobility and environmental health sectors. Created by the merger of AGSM Verona and AIM Vicenza, the publicly owned group (61.2% owned by the municipality of Verona and 38.8% by the municipality of Vicenza) has positioned itself as a benchmark for the energy, technological, sustainability and digital transitions. Its multi-business model enabled it to record substantial profitability growth in 2024, with solid business performance. Its €1.9 billion in revenue, €182 million EBITDA, over 2 000 employees and 890 000 electricity and gas customers make it one of Italy’s biggest multi-utility companies.

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SOURCE: European Investment Bank