EIB and Iren partner on €225 million push for greener waste and energy in Italy

The European Investment Bank (EIB) has signed a €225 million financing agreement with Iren Group to support the Italian utility’s investment plan for 2025–2028, as announced in an official statement published by the EIB. Signed in Milan by EIB Vice-President Gelsomina Vigliotti and Iren Executive President Luca Dal Fabbro, the deal targets two areas with direct environmental and social impact: municipal waste management and energy efficiency in buildings, with a particular focus on social care facilities. It is the latest chapter in a long-running partnership that has now totaled €2 billion in EIB financing to Iren over the years.

The waste management component will fund new bins, collection vehicles, recycling centers, and pay-as-you-throw systems — an approach that ties household waste charges to actual volumes produced, giving residents a direct financial incentive to sort and reduce their waste.

The energy efficiency side of the deal focuses on reducing consumption in buildings run by non-profit organizations, including care homes for elderly people and mental health centers. The EIB estimates that the measures will save around 6,800 MWh of primary energy annually and generate about 1,400 MWh from renewable sources — equivalent to the yearly energy needs of roughly 550 Italian households. On the circular economy side, the investments are projected to cut waste generation by around 50,000 tonnes per year and expand recycling and biomethane production by 220,000 tonnes annually. Vigliotti described the deal as “a concrete step towards a more sustainable development model,” while Dal Fabbro noted that over 80% of Iren’s financing instruments are now classified as green.

The investments will roll out primarily across Piedmont, Emilia-Romagna, and Liguria — the three northern Italian regions where Iren has long operated — with additional initiatives in Tuscany and elsewhere. The EIB provided €837 million to Italian utilities in 2025 alone, and this agreement reinforces the Bank’s position as Europe’s leading public financier in the sector.