BAKU, Azerbaijan, January 25. Snam plans to invest about 300 million euros in energy efficiency and distributed generation from 2023 through 2027, Trend reports.
According to the company's plan, the investments will be distributed through Snam's subsidiary, Renovit.
Throughout the plan, Snam aims to reposition its portfolio toward customers in the public and industrial sectors, utilizing its unique technical expertise to increase its backlog from around 2 billion euros in 2022 to approximately 3 billion euros by 2027.
More than 60 percent of this backlog is expected to come from the public sector, with long-term contracts ranging from 7 to 12 years, the company noted.
Meanwhile, during the reporting period, Snam anticipates that its overall investments in energy transition projects will amount to 1.2 billion euros. In general, investments for the period 2023-2027 are projected to reach around 11.5 billion euros, reflecting a 15 percent increase compared to the previous plan.