The European Investment Bank has completed signing of a €500 million loan for Italian power group Enel, the first half of financing approved to support installation of new ‘Open Meter’ technology by the group’s electricity distributor, E-distribuzione.
The bank is supporting investment during 2017-2021 for the installation of a new generation of smart systems to meet EU energy efficiency requirements of Directive 2012/27/EU, which was transposed into Italian Law by Legislative Decree 102/2014.
The utility is installing some 41 million new generation 2.0 meters over a 15-year period, including replacing around 32 million first generation meters.
According to EIB, the Open Meter technology will help promote energy efficiency, enhance awareness of consumer behaviour, encourage competition in meter-related services, and develop the home automation market.
- Italy, Enel, metering, European Investment Bank