EIB provides FS Italiane Group with support for new hybrid regional trainsChristian Fernsby ▼ | July 24, 2020
The EU bank is supporting FS Italiane Group's investment plan covering new trainsets for Trenitalia's regional transport division.
Topics: EIB trains
This is the goal of €450 million in European Investment Bank (EIB) financing for FS Italiane (parent company of the Trenitalia transport company) announced today by EIB Vice President Dario Scannapieco and FS Italiane Chief Executive Officer and General Manager Gianfranco Battisti.
€150 million of the total has already been finalised via the subscription of a corporate bond under FS’ EMTN programme, concluded by way of private placement, confirming the group's commitment to sustainable finance.
The recently subscribed operation will finance the purchase of the first 43 trainsets ordered of a total of 135 covered by Trenitalia's investment plan.
The new trains will operate on internal routes in several Italian regions (including Calabria, Lazio, Molise, Sardinia, Sicily, Tuscany and Valle d’Aosta).
The 135 hybrid trainsets will have three or four passenger carriages.
Trenitalia's overall investment for this kind of train totals almost €960 million, covering the renewal of regional fleets on lines where electrification is not yet complete.
The trains will be equipped with cutting-edge motors for non-electrified lines, with a pantograph for electrified lines and batteries for the last mile of non-electrified lines, thereby avoiding the use of fuel and the related emissions close to urban centres.
For the EIB, this operation is completely in line with its new status as a climate bank, the aim of which is to mobilise €1 trillion in new investment to tackle climate change in all sectors of the economy between 2020 and 2030. ■