Italy: EIB and Intesa Sanpaolo lend €750 million to support the development of renewable energy and the related supply chain

This article is published in association with European Investment Bank.

• The two agreements announced today will help finance the development of renewable energy plants for 2GW and mobilise more than €4.5 billion of investment in the real economy.
• The first operation concerns a framework loan of €500 million to support photovoltaic, wind and bioenergy projects, with expected annual production of around 1 200 GWh, equivalent to the annual energy consumption of over 400 000 Italian households.
• The second operation provides for a €250 million counter-guarantee, signed as part of the EIB Wind Package, to stimulate new investments in the European wind industry.

The European Investment Bank (EIB) and Intesa Sanpaolo, through the IMI Corporate and Investment Banking Division, have signed two financial operations for a total value of €750 million to support the development of renewable energy and the related supply chain. It is estimated that the two agreements announced today will help finance the construction of renewable energy plants for the 2GW Programme and mobilise more than €4.5 billion of investment in the real economy.

“With these agreements we are promoting not only the production of renewable energy but also the growth of a strategic industrial chain to boost the competitiveness of the European Union. Our recent collaboration with Intesa Sanpaolo is increasingly focused on promoting decarbonisation of the economy and shows our joint commitment to driving the energy transition and strengthening energy security across the country,” said EIB Vice-President Gelsomina Vigliotti.

“The goal of these operations is to facilitate and support long-term investments that can generate value for companies, regions and the entire economy. Our commitment as a group is to support companies on the path to energy transition, bolstering an increasingly key sector for sustainable growth and the competitiveness of Italy’s and Europe’s economy. In order to achieve these goals, an even closer public-private cooperation that can innovate the industry and stimulate new investments is essential, as shown by this important agreement signed with the EIB,” said Chief of the IMI Corporate and Investment Banking Division of Intesa Sanpaolo Mauro Micillo.

The first agreement consists of a €500 million framework loan, through which the EIB provides Intesa Sanpaolo with a dedicated funding facility to support renewable energy projects, particularly photovoltaic plants, onshore wind and electrical storage systems as well as, to a lesser extent, initiatives in the bioenergy sector. Individual projects will be carried out mainly in Italy (around 80%), but also in other EU countries. As the operation is fully aligned with the REPowerEU objectives, the EIB funds will finance up to 75% of the eligible costs, instead of the standard 50%.

It is estimated that this credit line will help unlock €670 million of investment and will enable the generation of about 500 MW of new renewable capacity, with expected annual production of around 1 200 GWh, equivalent to the annual energy consumption of over 400 000 Italian households. The installation and operation of the plants will help generate some 2 300 direct jobs during the construction phase and around 180 permanent jobs during operation. A major share of the investment will take place in cohesion regions of the European Union, thus also supporting the EIB’s territorial inclusion agenda.

The second agreement provides for a counter-guarantee of €250 million as part of the €6.5 billion Wind Package announced by the EIB at COP28 in Dubai. In this case, the EIB will provide Intesa Sanpaolo with a counter-guarantee, supported by InvestEU, the European Union’s investment programme, which will enable it to activate a portfolio of bank guarantees of up to €500 million, designed to back the supply chain and power grid interconnection for new investments in the European wind sector. The high leverage effect of the EIB counter-guarantee will free up additional funding to support increasing production and accelerating wind energy development, helping to stimulate an estimated €4 billion of investment in the real economy and generate around 1.6 GW of new renewable capacity each year.

Background information

The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. Built around eight key priorities, we finance investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, the capital markets union, and a stronger Europe in a more peaceful and prosperous world.  The EIB Group, which also includes the European Investment Fund (EIF), signed over 900 projects worth nearly €89 billion in 2024, boosting Europe’s competitiveness and security. The EIB Group signed 99 operations totalling €10.98 billion in Italy in 2024, unlocking almost €37 billion of investment in the real economy. All projects financed by the EIB Group are in line with the Paris Climate Agreement, as pledged in our Climate Bank Roadmap. Almost 60% of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment. Fostering market integration and mobilising investment, the funds made available by the Group unlocked over €100 billion in new investment for Europe’s energy security in 2024 and mobilised a further €110 billion for startups and scale-ups. Around half of the EIB’s financing within the European Union is directed towards cohesion regions, where per capita income is lower than the EU average.

The InvestEU programme provides the European Union with long-term funding by leveraging substantial private and public funds in support of a sustainable recovery. It also helps to crowd in private investment for the European Union’s strategic priorities such as the European Green Deal and the digital transition. InvestEU brings all EU financial instruments previously available for supporting investments within the European Union together under one roof, making funding for investment projects in Europe simpler, more efficient and more flexible. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub, and the InvestEU Portal. The InvestEU Fund is deployed through implementing partners that will invest in projects using the EU budget guarantee of €26.2 billion. The entire budget guarantee will back the investment projects of the implementing partners, increase their risk-bearing capacity and thus mobilise at least €372 billion in additional investment.

Intesa Sanpaolo 

Intesa Sanpaolo, with €419 billion in loans and €1.4 trillion in customer financial assets at the end of June 2025, is the largest banking group in Italy, with a significant international presence. It is a European leader in wealth management, with a strong focus on digital and fintech. In the environmental, social and governance domain, it plans to make €115 billion in impact contributions to the community and for the green transition by 2025. Its programme to support people in need totals €1.5 billion (2023-2027). Intesa Sanpaolo’s Gallerie d’Italia museum network is an exhibition venue for its artistic heritage collection and cultural projects of recognised value.

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