Brussels, 13/12/2010 (Agence Europe) - In Rome on Friday 10 December, the European Investment Bank (EIB) and Enel Green Power (EGP) signed the first instalment of €440 million of a €600 million loan for financing the company's three-year investment programme in Italy. EGP is a subsidiary of the Enel group operating in the renewable and alternative energies sector.
Specifically, the operation relates to EGP's 2011-2013 investment programme centring on the installation of 840 MW of new renewable energy capacity through the construction of small and medium-scale wind farms and photovoltaic plants in 50 locations throughout Italy, though largely concentrated in the south. The total cost of EGP's three-year investment programme will be around €1,260 million, almost half of which will be covered by the EIB loan. The loan falls within one of the EIB's priority action areas: financing projects in the energy sector that contribute to increasing generating capacity from alternative sources. (O.L./transl.rt)