Press Release

 

  • The agreement aims to strengthen Areti’s electricity infrastructure and supports REPowerEU objectives. 
  • The first tranche of €320 million was signed today, with a second tranche of €180 million to be signed in 2025.

The modernisation, upgrade and expansion of Areti’s electricity infrastructure – a company fully owned by Acea Group and responsible for the mains network in Rome and Formello - aims to provide increasingly efficient services to citizens.

This is the main objective of the €500 million financing granted directly to Acea by the European Investment Bank (EIB), covered by SACE’s Archimede guarantee, and by Cassa Depositi e Prestiti (CDP) with funding made available by the EIB.

Today in Rome, agreements were signed for the first tranche of financing, totalling €320 million, of which €200 million provided directly by the EIB, with 70% covered by SACE’s Archimede guarantee, and €120 million from CDP using EIB funding. The second tranche of €180 million is scheduled to be signed in 2025.

Through this transaction, the EIB, CDP and SACE are co-financing Areti’s investment plan in line with the objectives of REPowerEU, the European Union’s plan to reduce dependence on fossil-fuel and accelerating the transition to green energy. The resources available will serve to implement an intervention plan for digitalisation of the infrastructure. More specifically, the interventions will be focused on the following areas:

  • Upgrading Rome’s low and medium voltage network to increase resilience and capacity, including the installation of new lines;
  • Modernising the medium and low voltage network to enhance safety through advanced diagnostics, remote control, and automation;
  • Expanding and upgrading primary stations;
  • Enhancing grid intelligence to enable dynamic management, control of PODs via 2G smart meters and large-scale demand response through artificial intelligence and IoT platforms.

This transaction reaffirms the EIB and CDP as primary institutional funders of Acea’s investment plan, and SACE as a strategic financial insurance partner also for the Group’s future operations. SACE’s Archimede guarantee provides coverage of financing and bonds at market conditions for a maximum term of 25 years as leverage for country system competitiveness.

Fabrizio Palermo, Acea’s Chief Executive Officer, commented: “The agreements signed today with EIB, CDP and SACE represent for Acea a system operation of particular strategic importance and certify the value and quality of the investments that the Group has planned for the coming years in the electricity distribution networks. The investments will contribute to the achievement of increasing infrastructure resilience and flexibility thanks to the use of new technologies, such as artificial intelligence.”

Public EIB Vice President Gelsomina Vigliotti stated: “This financing reaffirms the EIB’s commitment to supporting the energy transition and achieving the REPowerEU objectives, which we are backing by making available €45 billion of additional financing by 2027. Modernising electricity infrastructure is essential, not only to make the grid more efficient and resilient, but also to enable greater integration of renewable energy into the system.”

“Thanks to the synergy effectively promoted in recent years with the European institutions” - Dario Scannapieco, Chief Executive Officer of Cassa Depositi e Prestiti commented – “CDP is today in a position to back high impact financial operations of value for the territory. From this perspective, the financing in favour of Acea further confirms CDP’s commitment to supporting the development and modernisation of Italian infrastructure. The consolidated partnership with the EIB, on many occasions also accompanied by SACE’s contribution, over the years has allowed us to support investments totalling around €13 billion destined for the economic growth of the territories”.

Alessandra Ricci, Chief Executive Officer of SACE, stated: “We confirm our commitment to supporting investments for competitiveness in Italy through the Archimede Guarantee, such as the upgrading of Acea’s electrical infrastructure. This new operation reinforces the strong synergy with institutional investors EIB and CDP in projects capable of generating a tangible impact on Italy’s economic fabric”.

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