Economy & Trade
EIB & Eni sign €500M for biorefinery in Italy
The European Investment Bank (EIB) and Eni have signed a €500 million loan agreement to support the conversion of Eni's Sannazzaro de' Burgondi refinery in Italy into a biorefinery. This 15-year loan aims to promote sustainable energy production and reduce reliance on fossil fuels. The biorefinery will produce biofuels from advanced feedstocks, contributing to the EU's renewable energy targets. This investment showcases the EIB's commitment to financing projects that support the green transition.
Boost for biofuel production: promoting green energy and reducing reliance on fossil fuels.