EIB and AGSM AIM Sign €120M Deal to Upgrade Power Grids in Northern Italy

The European Investment Bank (EIB) and AGSM AIM have signed a €120 million finance contract to modernize and enhance the electricity grid infrastructure in Vicenza, Verona, and Grezzana, three vital municipalities in Italy’s Veneto region. The funding, which supports the broader REPowerEU initiative, marks a strategic milestone in Italy’s energy transition, focusing on sustainability, digitalisation, and resilience.

The investment will be managed by V-RETI S.p.A., the infrastructure arm of the AGSM AIM Group, and will drive extensive upgrades to the local electricity distribution network to meet rising demand, integrate renewable energy, and ensure secure power supply for residents and businesses alike.

Financing to Strengthen Grid Resilience and Promote Sustainability

The financing agreement allows the €120 million loan to be drawn down either as a single tranche or in multiple phases, offering flexibility in implementing a complex and phased series of infrastructure projects. The initiative directly aligns with the European Union’s REPowerEU plan, which seeks to strengthen energy independence, reduce reliance on fossil fuels, and accelerate the shift toward clean energy sources.

“This agreement shows our growing practical commitment to backing investments to make power grids more modern, sustainable, and resilient,” said EIB Vice-President Gelsomina Vigliotti. “It will benefit local communities and support Italy’s ongoing energy transition.”

The EIB’s support highlights the Bank’s priority to foster green and digital infrastructure as part of its role as the EU’s climate bank. Modernising the electricity network is vital not only to improve energy security but also to ensure system flexibility, efficiency, and the integration of future smart-grid technologies.

Strategic Importance for Local Communities and the National Grid

The municipalities of Vicenza, Verona, and Grezzana are considered critical zones for AGSM AIM’s operational strategy due to their population density, industrial activity, and growing energy needs. The financing will enable AGSM AIM to:

• Reinforce and expand the medium- and low-voltage distribution network

• Integrate smart monitoring and control systems

• Improve energy efficiency and reduce line losses

• Enhance the resilience of the grid against extreme weather and cyber threats

• Facilitate the connection of new renewable energy plants and distributed energy resources

“This new EIB financing confirms our commitment to investing in our longstanding operational areas, making them more modern and sustainable,” said AGSM AIM Managing Director Alessandro Russo. “These technical operations are also strategically important to providing residents and businesses with an efficient power supply able to meet future challenges.”

Supporting the Broader Goals of REPowerEU and Italy’s Energy Agenda

The project is part of Italy’s broader strategy to meet its climate and energy targets under the National Energy and Climate Plan (NECP) and aligns closely with the European Commission’s Green Deal and REPowerEU program. These initiatives aim to decarbonize the energy system by 2050, promote local energy production, and reduce external energy dependencies.

The partnership also underscores how national utility operators and regional authorities can work closely with European financial institutions to unlock green capital and accelerate infrastructure modernization at the local level.

The AGSM AIM Group, a leading multi-utility operator in the Veneto region, has long been involved in electricity generation, distribution, gas services, water, public lighting, and district heating. This latest investment, supported by the EIB, is expected to have a multiplier effect—not only creating local jobs but also encouraging innovation in energy service delivery.

Looking Ahead

This finance agreement reaffirms the EIB’s role as a pivotal supporter of energy transformation across Europe and reinforces AGSM AIM’s position as a key facilitator of Italy’s low-carbon future.

With electricity demand expected to rise due to electrification of heating, transport, and industry, projects like this ensure that power networks are prepared to meet the needs of the next generation of energy users—securely, sustainably, and efficiently.