Latest news with #Archimede


Time of India
03-07-2025
- Business
- Time of India
Telecom Italia secures 750 mln euro state-backed loan
By Elvira Pollina and Giuseppe Fonte MILAN: Telecom Italia (TIM) is set to receive a 750-million euro ($884 million) syndicated loan backed by Italy's export credit agency SACE, two sources familiar with the matter told Reuters on Thursday. The five-year facility provided by a pool of banks will benefit from a 70% guarantee under SACE's Archimede scheme, the sources said, asking not to be named. It is expected to be finalised as early as this month. The Archimede programme is designed to support Italian companies investing in strategic sectors such as digital transformation and the green transition. It envisages a maximum exposure of 60 billion euros through 2029, of which 10 billion were already taken on by SACE last year, according to the Treasury's multi-year budget plan unveiled in April. Despite the phasing out of the state aid emergency programmes adopted in the wake of the COVID pandemic, Italy helps firms secure funding through several guarantee schemes worth more than 13% of gross domestic product (GDP), the latest government data showed. EU accounting rules state that public guarantees do not drive up the national debt until they are tapped by the banks which benefit. TIM will use the resources to fund ongoing infrastructure upgrades and boost its digital services, in line with national and EU digital goals . Spokespeople for Telecom Italia and SACE declined to comment. TIM, the heir to Italy's former phone monopoly and the country's largest telecoms group, last year sold its prized fixed-line network infrastructure for 18.8 billion euros to a consortium led by U.S fund KKR and including Italy's Treasury. The deal, aimed at slashing the company's debt pile and streamlining its operations, has helped TIM to improve its credit rating, which remains below investment grade territory. State-backed financial conglomerate Poste Italiane has become TIM's single largest investor this year with a 24.8% stake, replacing France's Vivendi.
Yahoo
04-03-2025
- Business
- Yahoo
Iberdrola signs 1,000GWh PPA with Italian retailer Pam Panorama
Spanish multinational electric utility company Iberdrola has signed a 1,000 gigawatt hours (GWh) power purchase agreement (PPA) with Italian retail company Pam Panorama. The retailer will use the solar power delivered by Iberdrola to power its Pam, Panorama, Pam Local and Pam City outlets in Italy. The agreement will cut annual carbon emissions by more than 38,300t - equivalent to the energy needs of 40,300 households. Iberdrola's expansion in Italy is increasing steadily, with an expected installed capacity of 400MW by 2025. The company attributes this growth to the upcoming launch of its third operational plant and the development of four additional photovoltaic (PV) projects. The energy company has signed 15 agreements with prominent companies including Amazon, with which it signed wind and photovoltaic energy in Spain, Portugal and the UK. The Spanish electric utility signed power agreements with Italian companies such as BTicino, Acciaierie Venete, Prima Sole Components and Bayer, amounting to 50MW. Iberdrola's collaborations extend beyond Italy, with strategic alliances formed with companies such as Microsoft, Meta, Salzgitter, Mercedes-Benz and Vodafone. In December 2024, Iberdrola secured a €100m green loan from the EIB, guaranteed by SACE [the Southern Alliance for Clean Energy] under the Archimede scheme, to build a photovoltaic plant in Sicily, Italy. This marked the first EIB-Iberdrola collaboration backed by SACE. The plant, to be operational by 2025, aims to boost Italy's renewable capacity and support European Union climate goals. "Iberdrola signs 1,000GWh PPA with Italian retailer Pam Panorama" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.