Intesa Sanpaolo and Snam (Tep Energy Solution) to improve energy efficiency of condominiums

Snam Company

  • A collaboration agreement has been signed to promote energy efficiency measures, such as upgrading heating systems and installing insulation, in accordance with the “Ecobonus” and “ Sismabonus” schemes.
  • The synergy offers a complete service for respective customers, under special conditions and at short notice.

Milan (Italy), 27 June 2019 – Intesa Sanpaolo and TEP Energy Solution, a subsidiary of Snam that works in the energy efficiency sector, have signed a collaboration agreement to promote energy efficiency measures in residential and tertiary buildings, particularly condominiums.

Italy has set itself the goal of going beyond the European target of reducing energy consumption by 32.5% by 2030. In this sense, the contribution of the residential sector will be crucial: in fact, on average, buildings can be attributed about 40% of energy consumption in the EU Member States. Moreover, according to ISPRA, the national Institute for Environmental Protection and Research, they total over 50% of the annual PM10 and carbon monoxide emissions in Italy.

To contribute to emissions reductions and energy savings, Intesa Sanpaolo and TEP Energy Solution have decided to join forces, working in synergy to provide their customers with the best opportunities to replace heating systems and/or install insulation.

Intesa Sanpaolo and TEP Energy Solution will offer a full service, ranging from financial and technical consulting to ensuring the ultimate implementation of the scheme, under special conditions and at short notice.

Intesa Sanpaolo will offer loans to condominium-based consumers, with at least one person per condiminium, to cover the amount that is not covered by the Ecobonus or Sismabonus schemes. More generally, these loans will cover up to 80% of the investment.

TEP Energy Solution offers a ‘CasaMia’ product, which has been offered to over 400 condominiums throughout Italy so far. The product aims to redevelop the buildings’ energy efficiency, financing works through consumption savings and the transfer of tax credit linked to the Ecobonus and Sismabonus schemes.

Snam’s investments in energy efficiency are part of the Snamtec project, which was launched as part of the 2018-2022 strategic plan, and is supported by investments of 850 million euros into sustainability, technological innovation and new lines of business linked to energy transition. Activities in the efficiency sector began with the acquisition of TEP in 2018, and specifically target residential, real estate and industrial sectors.

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30 July 2019 - 18:48 CEST