On Monday 7 August, the Italian authorities sent the European Commission their revised recovery plan, which includes a REPowerEU chapter designed to accelerate the energy transition and independence from Russian hydrocarbons.
This chapter includes investments and reforms designed to stimulate the deployment of renewable energies, energy efficiency and the production of biomethane, to modernise the energy distribution network by facilitating the transit of LNG and hydrogen, and to limit subsidies for more polluting products and services.
According to the Commission, Italy wants to review 144 investments and reforms linked to the initial recovery plan in areas such as digitalisation, sustainable mobility, health, education and training. Some projects have been rescheduled because of delays. Other measures worth €15 billion, notably in the energy efficiency and urban renewal sectors, have been totally or partially deprogrammed and will be financed differently by the Italian State.
Italy’s recovery plan includes €69 billion in grants and €122.6 billion in loans. In addition, there are €2.76 billion in grants under the REPowerEU chapter and redirected structural funds. The Italian authorities have not ruled out calling upon additional loans once the amounts still available are known.
See a draft of Italy’s revised recovery plan (in Italian): https://aeur.eu/f/8c0 (Original version in French by Mathieu Bion)