The European Investment Bank has signed a €225 million financing contract with Italy’s Iren Group to support investment projects planned for 2025 to 2028, including upgrades to waste management and measures to cut energy use in buildings.
The agreement was signed in Milan by EIB vice-president Gelsomina Vigliotti and Iren executive president Luca Dal Fabbro, according to a statement from the EU-owned lender issued on Thursday.
Funding will go towards municipal waste management projects such as new bins, collection vehicles, recycling centres and other infrastructure.
Part of the programme will support the roll-out of “pay-as-you-throw” systems, which link household charges to the amount of waste produced.
The financing also covers energy efficiency work intended to reduce energy use in buildings, with a focus on facilities such as care homes for older people and mental health centres run by non-profit organisations.
The EIB estimated the energy efficiency measures would save about 6,800 MWh of primary energy a year and produce around 1,400 MWh of electricity from renewable sources — roughly the annual needs of about 550 Italian households.
Main focus on north-western Italy
Most of the investments will be carried out in Piedmont, Emilia-Romagna and Liguria, with additional initiatives in Tuscany and other regions, the bank said.
The work will be implemented through Iren Group companies including Iren Ambiente and Iren Smart Solutions.
The EIB also estimated the circular economy measures would reduce waste generation by around 50,000 tonnes a year and increase the amount sorted for recycling or biomethane production by about 220,000 tonnes annually.
Biomethane is a renewable gas produced by processing organic waste.
Vigliotti emphasised the financing would support investment in waste infrastructure and building energy efficiency.
Dal Fabbro said Iren has signed €2 billion in financing with the EIB over the years and that green financing instruments now account for more than 80% of the group’s financing.
