Italy's Erg secures 243-million-euro EIB loan for renewable energy projects

Erg SA

16/12/2024 15:45

MILAN, Dec 16 (Reuters) - Italy's Erg  ERG.MI  has
secured a 243-million-euro ($254.91 million) loan from the
European Investment Bank (EIB) for wind and solar energy
projects in Italy, France and Germany, the renewable energy
group said on Monday.
    The EIB loan will cover more than the standard 50% of the
total cost of projects as it is linked to REPowerEU, the
European Union's decarbonisation and green energy plan, Erg said
in a statement.
    It will support three greenfield onshore wind farms in
France, the re-powering of two existing wind farms in Italy and
one in Germany, and the modernising and raising the output of
seven solar power plants in Italy. 
    The agreement covers a total installed capacity of around
270 megawatts (MW) to meet the annual energy needs of over
200,000 families, Erg said. 
     
($1 = 0.9533 euros)

 (Reporting by Gianluca Semeraro, editing by Alvise Armellini
and Tomasz Janowski)
 ((gianluca.semeraro@tr.com; +39 06 80 307 741;))