Snam has signed a loan agreement with the European Investment Bank (EIB) for a total of €100 million to support energy upgrading interventions in public buildings, residential buildings and energy efficiency of industrial activities.

This is a framework loan that can be used in several tranches within a three-year period, a joint statement said.

Each tranche will have a maximum total duration of 15 years.

Bei estimates that these interventions will help produce renewable energy equal to the annual energy consumption of more than 10,000 Italian households and generate annual energy savings of 84 GWh.

This latest contract further consolidates the more than 10-year relationship between Bei and Snam, with outstanding loans totaling nearly 1.5 billion euros.

(Cristina Carlevaro, editing Gianluca Semeraro)