EIB greenlights €264m loan to build biomethane pipelines in Italy
The European Investment Bank (EIB) has approved a loan of up to €264m to energy firm Snam for construction of 240km of new pipelines to integrate biomethane production plants into Italy’s gas transmission network.
This new infrastructure will be able to transport up to 1.13 billion cubic metres (cbm) of biomethane per year, equivalent to 12,000 GWh of energy.
The project supports the target set under the National Recovery and Resilience Plan, which provides for the production of five billion cbm of biomethane per year by 2030.
“This loan to Snam will help reduce dependence on imported fossil fuels and promote national and European strategic autonomy, in line with the objectives of REPowerEU and the NRRP,” said Gelsomina Vigliotti, Vice-President of EIB.
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