EIB provides 120 million euros to upgrade Veneto power grid

Brussels – The European Investment Bank (EIB) and AGSM AIM have signed a finance contract totaling 120 million euros to strengthen and modernize the power grid in the municipalities of Vicenza, Verona, and Grezzana (Verona), all strategic areas for the group served by the V-RETI S.p.A. business unit. The financing, which can be used in one or more tranches, represents a step forward in promoting the energy transition and the goals of REPowerEU. The funds will be directed to projects that improve the grid’s operational efficiency, resilience and sustainability, in line with EU decarbonization and digitalization objectives. 

 “This agreement shows our growing practical commitment to backing investments to make power grids more modern, sustainable and resilient, benefiting local communities and Italy’s energy transition,” said EIB Vice-President Gelsomina Vigliotti.