Italy: EIB provides €800 million to Edison to back energy transition

This article is published in association with European Investment Bank.

• The EIB financing will be split into several loan agreements to support Edison’s investments in renewables and energy efficiency.
• EIB Vice-President Gelsomina Vigliotti and Edison Chief Executive Officer Nicola Monti met today to announce the signature of the first €200 million loan agreement.
• The operation is in line with REPowerEU objectives and Italy’s national energy and climate plan, to which Edison contributes by ensuring the security and stability of the national power grid.

The European Investment Bank (EIB) is providing up to €800 million to support Edison’s investment plan to promote Italy’s energy transition. The EIB funds will be allocated through several loan agreements. The first €200 million agreement was signed today during a meeting between EIB Vice-President Gelsomina Vigliotti and Edison Chief Executive Officer Nicola Monti at Palazzo Edison.

Structured into several loan agreements to be signed in the coming years, the financing will help bolster Edison’s development plan for renewable energy, energy efficiency and public lighting. The EIB financing will cover more than the standard 50% of the total cost of the projects due to their significant contribution to REPowerEU objectives. This means the EU bank will be able to finance up to 75% of the total cost, in line with its Energy Lending Policy.

“This operation confirms the EIB’s role as the EU climate bank,” said EIB Vice-President Gelsomina Vigliotti. “Speeding up the energy transition is key to guaranteeing sustainability, competitiveness and strategic autonomy in Europe. Investing in clean solutions today means building a more resilient, secure and prosperous tomorrow for all.”

“The EIB financing is further recognition of our ongoing sustainability journey,” added Edison Chief Executive Officer Nicola Monti. “We are a leading player in Italy’s energy transition, and this agreement demonstrates the strength of our commitment and investment plan focusing on renewables, efficiency and energy security to support the sustainable development of the country.”

The EIB-supported investments fall under Edison’s responsible operator strategy, with an industrial development plan in line with the goals of Italy’s national energy and climate plan. In 2023, Edison’s strategic plan formalised the commitment to make investments that are 75% aligned with the EU taxonomy by 2030. Last year, 55% of the company’s earnings before interest, taxes, depreciation and amortisation (EBITDA) was derived from renewables, flexibility instruments, customers and services.

The particularly favourable financial conditions (term and interest rates) of EIB loans – made possible by the Bank’s AAA or equivalent credit rating – will support Edison’s path towards lasting and sustainable growth.

Public disclosure obligations as required by CONSOB resolution no. 11971 of 14 May 1999, as amended.

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 nearly €89 billion in new financing for over 900 high-impact projects 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.

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Edison

Edison is a leading energy company, with 140 years of history and records that make it Europe’s oldest operator in the sector. The company, which started operations in Milan in December 1883, ushered in the beginning of a new era through the country’s electrification process, making a tangible contribution to Italy’s social, cultural, economic and industrial progress. Today Edison employs over 6 000 people, operating in Italy and Europe in renewable and low-carbon production, natural gas procurement and sales, sustainable mobility, and through Edison Energia and Edison Next in energy, environmental and value-added services for customers, companies, territories and public administration. The group is at the forefront of the energy transition challenge, consistent with the UN Sustainable Development Goals and European decarbonisation policies. Edison has a highly flexible and efficient power generation fleet, consisting of 250 power plants including hydroelectric, wind, solar and high-efficiency gas-fired combined-cycle thermoelectric power plants with a total capacity of about 8 GW; and supplies the country with liquid natural gas (LNG) and natural gas, thanks to a large and highly diversified portfolio of 14 billion m³ per year and three LNG carriers. In 2021, Edison established the EOS Foundation, Edison Orizzonte Sociale (Edison Social Horizon), the corporate foundation with which the company consolidates its social commitment by contributing with its people and skills to the 2030 Agenda goals.