(Finance) – The European Investment Bank (EIB) e Italian State Railways (FS) have signed a 500 million euro agreement to improve the quality of railway services in Campania and Lazio through the purchase of new electric trains. In detail, the EIB has subscribed to a green bond in private placement issued by FS for 500 million euros, from which Trenitalia (lead company of the Passenger Hub of the FS Italiane Group) will benefit through an intercompany loan.
The resources invested by the EIB will help finance thepurchase of 102 new electric trains for regional transport, equipped with ERTMS technology, the most advanced railway signaling system in Europe, as well as equipped with the highest standards of accessibility, safety and infotainment for travellers. Furthermore, the new trains which will be of two types (“POP”, with high capacity, and “ROCK”, with medium capacity) guarantee a limited environmental impact thanks to the adoption of high energy efficiency technologies (such as naturally ventilated engines, light alloy cases, LED lighting, sensors for optimal climate control, smart parking functionality, etc.) and over 95% of their material is recyclable.
The new electric trains, which will enter in service by mid-2027will be used to offer regional railway services in Campania and Lazio, as provided for in the relevant Service Contracts, we read in a note.
“This operation, which will contribute to the modernization of the regional train fleet in Italy, further consolidates the already excellent partnership between the EIB and FS, which is fundamental for promoting sustainable mobility and economic development in Italy. Green bonds represent an excellent alternative to traditional financial products to support projects that contribute to the climate transition – he commented Gelsomina Vigliotti, Vice President of the EIB – Not many people know that it was the EIB itself that launched green bonds in 2007 and since then we have issued green bonds for over 69 billion euros in 23 currencies.”
“The operation signed by the EIB further strengthens its trust and interest in FS, demonstrating the great work carried out in recent years by two fundamental players for the development of our country”, he declared Marco Fossataro, Chief Financial Officer of FS.
The issuance of the green bond signed today will take place under the medium-long term bond issuance program (EMTN program) from a total of 12 billion euros established by FS in 2013, and in compliance with the principles contained in the current Green Bond Framework (GBF), published by FS for the first time in 2017 and updated in 2022, in accordance with the Green Bond Principles issued by ICMA.