The European Investment Bank (EIB) is lending €120 million to AGSM AIM to improve electricity infrastructure in three northern Italian municipalities—Vicenza, Verona, and Grezzana. The financing will help upgrade and modernize the grid operated by the company’s local network unit, V-RETI S.p.A.
The project targets better service reliability and supports Italy’s move toward cleaner energy. The funding can be used in full or in smaller phased payments and backs EU goals tied to digitalization and lower carbon emissions as part of the REPowerEU plan.
EIB Vice-President Gelsomina Vigliotti said the deal reflects increasing support for local energy investments that “help modernize the grid and support Italy’s energy transition.” Alessandro Russo, Managing Director of AGSM AIM, said the investment will make the company’s systems “more capable of handling current and future demand.”
The loan will pay for technical upgrades that improve how the power grid performs, making it more resilient and reducing energy losses. Local communities will benefit from more stable service and better preparation for future increases in energy use.
AGSM AIM is publicly owned and provides electricity, gas, telecom services, and other utilities to nearly 900,000 customers. With over 2,000 employees and €1.9 billion in revenue, it is one of Italy’s largest local utility groups. The EIB said this new deal builds on its broader work supporting energy efficiency and climate projects in Italy and across the EU.
