November 23 (Renewables Now) - The European Investment Bank (EIB) is lending EUR 150 million (USD 177m) to Italian wind projects with a combined capacity of 165 MW, developed by E2i Energie Speciali.
The bank said today the line of credit, granted to Italian electricity and natural gas producer Edison SpA (BIT:EDN), will finance both new and full refurbishment wind projects in Abruzzo, Basilicata, Campania, Puglia and Sicily. With these, E2i’s portfolio will grow to more than 700 MW.
E2i Energie is a joint venture between Edison and F2i, which is also known as Fondi Italiani per le Infrastrutture SGR SpA. It will use the EIB funds to complete the eight projects, awarded in the 2016 auction by GSE. Six of the projects are already under construction, while work in Puglia is planned to start later in 2017.
The EIB loan may be deployed in multiple tranches, each having a term of 15 years, and will be available for 24 months.
(EUR 1 = USD 1.18)