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Add to Preferred SourcesThe European Investment Bank (EIB) has approved a new €250 million, 15-year financing package for Italgas Group to support energy efficiency upgrades across Italy, according to a press release. The upgrades will be carried out by Geoside and Italgas Properties, respectively the Group’s Energy Service Company (ESCo) and its new real estate company. A first tranche of €150 million was signed today. The initiative marks the ninth transaction between the EIB and Italgas Group, bringing the total value of loans to over €1.9 billion. It targets public and private buildings, SMEs, photovoltaic systems for self-consumption, and public lighting.
This is the second EIB framework loan to Italgas entirely dedicated to aggregating several investments aimed at improving energy efficiency. The financing contributes to accelerating the implementation of the investment programme in a context marked by market volatility, geopolitical tensions, and complex trade dynamics. Italgas is a Network Tech Company active in gas distribution, water services, energy efficiency, and IT. Following the acquisition of 2i Rete Gas, Italgas became the leading gas distribution operator in Europe. It counts a network of around 155,000 kilometres, 12.7 million customers in Italy and Greece, and around 6,500 employees.
The agreement will support a broad portfolio of small- and medium-sized projects to be implemented over the 2026–2029 period. These include the energy-efficient renovation of public and private buildings and energy efficiency measures in the industrial sector. Additional works cover the installation of integrated photovoltaic systems for self-consumption and the modernisation of public lighting infrastructure. According to EIB estimates, the operation is expected to deliver primary energy savings of approximately 30.6 GWh per year. It is also projected to generate around 21.5 GWh of primary energy from renewable sources each year, equivalent to the annual electricity consumption of around 8,200 Italian households.
“This agreement strengthens the EIB’s role in supporting large-scale investment programmes in the energy efficiency sector, mobilising resources in a segment characterised by high fragmentation and significant financing needs,” said Gelsomina Vigliotti, EIB Vice-President.
She added that the operation enables capital to be channelled into projects spread across the country, helping to improve the sustainability profile of investments. Paolo Gallo, Chief Executive Officer of Italgas, described energy efficiency as the most tangible way to reduce energy consumption without compromising performance. He noted that the EIB financing strengthens the company’s ability to develop innovative solutions based on Geoside’s proprietary technologies and in-house artificial intelligence systems.
“Our goal is to create value by reducing energy consumption, fully aware that the best energy is the energy we do not use,” Gallo commented.
Geoside, the Group’s ESCo, manages energy efficiency for condominiums, public administrations, and businesses across Italy. It leverages proprietary technologies developed to serve the Group and Artificial Intelligence applied to its energy management systems. Through Nepta, the Group’s water sector company, Italgas provides services directly and indirectly to 6.3 million people, equal to 10% of the Italian population. In Italy, the EIB Group signed 105 new financing agreements totalling €12.3 billion in 2025. In 2025, the EIB Group signed €100 billion in new financing and advisory services for over 870 high impact projects.