BAKU, Azerbaijan, January 21. Italy-based Snam company plans to invest 1 billion euro in the energy transition business as part of its new 2022-2026 plan, Trend reports with reference to the company.
Investments in biomethane in the 2022-2026 plan amount to approximately 550 million euros and include plants in operation by 2026 for more than 100MW (with an expected output of about 200 million cubic metres). To date, Snam has built a solid platform in this segment with around 40MW of biogas and biomethane plants operational by end 2022 and has strengthened its role as an industrial-scale developer.
Within the plan’s horizon, 100 million euros are planned to be invested in hydrogen also through funds allocated by the National Recovery and Resilience Plan (NRRP) to contribute in preparing the domestic ecosystem to the use of hydrogen.
Snam is allocating around 120 million euros of investments to Carbon Capture and Storage over the period covered by the plan.
Snam promotes the energy transition in the territories in which it operates, by developing integrated projects in green gases - biomethane and hydrogen - and in energy efficiency.
In biomethane, the company operates through BioEnerys, specialized in the construction and management of plants and in the promotion of circular economy projects aimed at the energy enhancement of the organic fraction of waste and agricultural waste, and through Snam4Mobility, which is committed to strengthening the distribution network of CNG/LNG and Bio-CNG/LNG (compressed and liquified natural gas and biomethane) to decarbonise transports.
Snam relies on hydrogen as a sustainable energy carrier and is
adapting infrastructure to enable its transport and storage, as
well as promoting its use in sustainable mobility (heavy
transports, trains) and in industrial applications. Moreover, it is
investing in electrolysis technologies.
In energy efficiency, Snam operates through Renovit, also
participated by CDP Equity, which develops projects to optimize
energy consumption and reduce emissions for companies, apartment
blocks, the tertiary sector and public administrations.
Finally, Snam creates new green areas in Italy through Arbolia, a benefit company born from a collaboration with Fondazione Cassa Depositi e Prestiti and dedicated to forestry projects.
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