CDP and Snam together to promote initiatives of energy efficiency in Italy

CDP Snam

Rome, 28 February 2019 - Cassa depositi e prestiti (CDP) and Snam today signed a preliminary agreement aimed at promoting energy efficiency and sustainability initiatives in Italy, in particular on the real estate assets of the public administration. The agreement was signed in Rome by the CEOs of CDP, Fabrizio Palermo, and Snam, Marco Alverà.

Under the agreement, CDP and Snam will jointly promote public administration projects aimed at accelerating the energy efficiency of public real estate assets. As part of the collaboration, Snam will bring its industrial, technical and commercial expertise, while CDP will provide its financial knowledge as well as its ability to manage relations with the public administrations and competent institutions.

“This agreement represents an important step in the development of a new CDP operation to support the energy transition and the circular economy”, said the CEO of Cassa depositi e prestiti, Fabrizio Palermo. “We are currently planning new energy efficiency initiatives for the PA, which will help us to work towards achieving the Sustainable Development objectives outlined in the new Business Plan. Today’s agreement is part of that journey, and is marked by a close partnership with the subsidiaries as part of a long-term industrial framework”.

Snam CEO, Marco Alverà, said: “Internal and external energy efficiency is one of the cornerstones of our new Snamtec project for sustainability, energy transition and innovation, with a total investment of 850 million euro by 2022. We have already started training activities with various workshops and we are developing new projects for about 200 condominiums throughout Italy. This marks an opportunity for Snam to enter into a new market. On the domestic side, energy efficiency will allow us to reduce methane emissions by 25% to 2025. With this agreement, leveraging our skills and those of CDP, we would like to further expand our presence in the sector and contribute to the reduction of consumption and energy costs as well as the emissions of Italian properties, especially from the public administration”.

The agreement may be subject to subsequent binding agreements that the parties will define in compliance with the applicable regulatory profiles, including those relating to transactions between related parties.

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28 February 2019 - 17:53 CET