BAKU, Azerbaijan, Nov.21
By Leman Zeynalova – Trend:
For the period 2019-2023 Italy’s Snam has planned to double its investment in new business for the energy transition to at least 400 million euros, compared to 200 million euros in the previous plan, Trend reports referring to the company.
“The most significant increase concerns the sector of biomethane derived from organic, agricultural and agro-industrial waste, which will play a strategic role in the decarbonisation process. Snam aims to support and accelerate the evolution of the Italian market also by investing, through its subsidiaries, in infrastructure and plant construction. Investments are planned for around 250 million euros, compared to 100 million euros in the previous plan, to build plants with an installed capacity of over 40 Megawatts,” reads the report released by the Italian company.
The investment in the biomethane sector complements those envisaged in sustainable mobility to support the increase in the Italian network of distributors of compressed natural gas (CNG and bio-CNG) and liquefied natural gas (LNG and bio-LNG), the first in Europe with more than 1,350 distributors (about 150 stations connected to the network since 2018), reads the report.
Snam confirms planned investments of 50 million euros in the construction of around 150 methane and biomethane refuelling stations for cars and buses, created in collaboration with Cubogas, which is controlled by Snam4Mobility.
“Still in the area of energy transition, investments of around € 50 million are expected in energy efficiency, a sector that requires impetus to meet the growing potential of the market and in which Snam is already among the leading Italian operators through the subsidiary TEP Energy Solution, an Energy Service Company (ESCo) specializing in energy efficiency solutions for condominiums, companies and public administrations,” said the company.
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