(Alliance News) – Iren Spa announced on Wednesday the signing of a new green credit line of EUR 200 million over 18 years with the European Investment Bank, which will be used to support the group’s sustainable investments over the period 2023 -2027 in electricity network resilience projects.
The investments, totaling around 330 million euros, are intended for the maintenance, modernization and development of electricity distribution networks, as well as the installation of new smart meters in the historic territories of the Iren group, such as Emilia-Romagna and Piedmont, and in particular in the municipalities of Parma, Turin and Vercelli.
The projects financed by Iren are in line with the objectives of the National Integrated Energy and Climate Plan and the objectives of REPowerEU to reduce energy consumption, which the EIB has committed to supporting with €45 billion. EUR of additional investments by 2027.
The transaction will enable Iren to improve the capacity of its distribution network, increase its resilience, reliability and security of supply, as well as meet the renewal needs of existing assets and planned developments.
“In line with the strategy described in the industrial plan aimed at concretely supporting the energy transition, innovative applications such as advanced automation, remote control and smart meters will be strengthened,” we can read in the company press release .
Iren’s stock is up 1.1% at 1.91 euros per share.
By Chiara Bruschi, journalist at Alliance News
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