EIB and CDP Invest €500 Million in ACEA to Boost Rome’s Energy Infrastructure and Support Green Transition

EIB and CDP Invest €500 Million in ACEA to Boost Rome’s Energy Infrastructure and Support Green Transition

(IN BRIEF) ACEA has secured €500 million in financing from the European Investment Bank (EIB) and Cassa Depositi e Prestiti (CDP), backed by SACE, to upgrade the electricity distribution network managed by Areti in Rome and Formello. This investment, aimed at improving the resilience, efficiency, and digital capabilities of the network, aligns with the EU’s REPowerEU initiative to accelerate the energy transition. The financing is split into two phases, with €320 million signed initially and an additional €180 million to follow in 2025. The project focuses on modernizing low and medium voltage networks, enhancing safety, expanding primary stations, and integrating AI and IoT for smarter energy management. The EIB, CDP, and SACE reaffirm their roles as key institutional supporters of ACEA’s strategic goals, highlighting the importance of modernizing Italy’s energy infrastructure to support the shift toward sustainable energy sources.

(PRESS RELEASE) LUXEMBOURG, 29-Oct-2024 — /EuropaWire/ — ACEA has secured €500 million in financing from the European Investment Bank (EIB) and Cassa Depositi e Prestiti (CDP), backed by a guarantee from SACE, to modernize and expand the electricity distribution network managed by Areti, ACEA’s fully-owned subsidiary responsible for serving Rome and Formello. This investment aims to enhance the efficiency, resilience, and digital capabilities of the region’s energy infrastructure, aligning with the European Union’s REPowerEU goals to accelerate the transition to sustainable energy sources.

The financing package, which is split into two phases, began with the signing of the first tranche of €320 million in Rome. Of this amount, €200 million is directly provided by the EIB with 70% coverage through SACE’s Archimede guarantee, while the remaining €120 million comes from CDP, utilizing EIB funds. The second tranche of €180 million is expected to be finalized in 2025. This funding will support the implementation of a comprehensive investment plan focusing on digitalization and modernization of Areti’s low and medium voltage networks, the expansion of primary stations, and the integration of advanced technologies like artificial intelligence and IoT for smarter grid management.

The EIB, CDP, and SACE’s collaboration underscores their roles as key institutional supporters of ACEA’s strategic investment initiatives. The EIB’s Vice President, Gelsomina Vigliotti, highlighted the bank’s dedication to supporting the EU’s REPowerEU objectives, emphasizing the importance of modernizing energy infrastructure to improve efficiency and integrate renewable energy sources.

ACEA’s CEO, Fabrizio Palermo, expressed the significance of this agreement, emphasizing how the partnership with the EIB, CDP, and SACE validates the strategic value of the investments planned for the coming years. He noted that the upgrades would enhance the resilience and flexibility of the network through the adoption of advanced technologies.

Dario Scannapieco, CEO of CDP, emphasized the strong collaboration between CDP and European institutions, which has enabled CDP to support large-scale projects like this one, contributing to the modernization of Italy’s infrastructure and economic development. Alessandra Ricci, CEO of SACE, affirmed the organization’s commitment to supporting projects that bolster Italy’s competitiveness, recognizing the significant impact of this investment on the country’s economic and energy landscape.

This financing will focus on critical infrastructure improvements, such as increasing the resilience of Rome’s power network, modernizing systems for enhanced safety, and expanding capabilities for dynamic energy management. Through these efforts, ACEA’s investment plan aims to meet the growing demand for sustainable energy while supporting Italy’s broader climate goals.

Background information

The European Investment Bank (EIB) is the European Union’s long-term lending institution and its shareholders are member states. It finances sound investments capable of contributing to strategic EU objectives. The EIB’s projects enhance competitiveness, foster innovation, promote sustainable development and improve social and territorial cohesion while supporting a fair and rapid transition towards climate neutrality. In the past five years, the EIB Group has provided more than €58 billion in financing for projects in Italy.

ACEA is one of the most important Italian industrial groups, listed on the Stock Exchange since 1999. The company is concerned with integrated water service management, electricity distribution, public and artistic lighting, the sale of electricity and gas, power generation mainly from renewable sources and waste treatment and valorisation. It is the leading national water sector operator, with around 10 million residents served, one of the most important Italian players in energy distribution and among the top operators in the environment sector in Italy, managing approximately 1.8 million tons of waste annually.

Cassa Depositi e Prestiti (CDP), the National Promotional Institution, has been supporting the Italian economy since 1850. Through its operations, it is committed to accelerating the country’s industrial and infrastructure development, with the aim of contributing towards its economic and social growth. CDP centres its operations around the territories’ sustainable development, alongside the growth and innovation of Italian companies, also at international level. It partners the Local Authorities, by way of financing and advisory activities for the implementation of infrastructure and the improvement of public utility services. Moreover, it is actively involved in International Cooperation for the realisation of projects in developing countries and emerging economies. Cassa Depositi e Prestiti’s funding comes entirely from private sources, through postal savings bonds and books and issues on the domestic and international financial markets.

SACE is the Italian insurance and finance group, directly controlled by the Ministry of Economy and Finance, specialised in supporting businesses and the national economic system through a wide range of tools and solutions to support competitiveness in Italy and worldwide. For over forty-five years, the SACE Group has been the reference partner for Italian companies that export and grow on overseas markets. It also supports the banking system, through its financial guarantees, to facilitate companies’ access to credit, with a view to supporting their liquidity and investments for competitiveness and sustainability as part of the Italian Green New Deal, starting from the domestic market. SACE is present all over the world with 14 offices in target countries for Made in Italy, which have the role of building relationships with primary local counterparts and, through dedicated financial instruments, facilitating business with Italian companies. With a portfolio of insured operations and guaranteed investments of €260 billion, the group serves approximately 50 thousand companies, especially SMEs, supporting their growth in Italy and in about 200 countries around the world.

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SOURCE: European Investment Bank