EIB provides EUR 100m to Gruppo Dolomiti Energia with an EFSI guarantee

World

dcpThe European Investment Bank (EIB) is supporting Gruppo Dolomiti Energia’s 2017-2020 development plan with a EUR 100m loan. The operation will be guaranteed by the European Fund for Strategic Investments (EFSI), the guarantee fund set up as part of the Investment Plan for Europe (IPE) – the so-called “Juncker Plan”.

EIB resources will cover around half of the overall cost of Gruppo Dolomiti Energia’s investment, which is aimed at renewing and developing gas and electricity distribution networks and strengthening and maintaining hydroelectric plants in the province of Trento in northern Italy, the main area in which Dolomiti Energia (1 400 employees, turnover of EUR 1.3bn in 2015) operates.

Dolomiti Energia Holding Chairman Rudi Oss added: “For us, obtaining this loan and the European Fund for Strategic Investments guarantee serves as confirmation of the value of our projects. The EIB’s positive opinion of the Group’s investment plan for the next four years will enable us to respond even more efficiently to local energy demand, contributing to growth and sustainability in the areas in which we operate.”

Source: eib.org