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Italian energy company Edison has secured a green loan from the European Investment Bank (EIB) to finance energy efficiency and renewable energy projects over a period of four years.

Edison has received €450 million ($508 million) in funding from EIB in two separate loans:

A Green Framework Loan worth €300 million ($338 million) in support of energy efficiency and renewable energy projects throughout the country, And a €150 million ($169.3 million) loan to upgrade a state-of-the-art combined-cycle gas turbine plant in Marghera (Venice).

The Green Framework Loan is the first operation of its kind in Italy financed by the EIB.

Energy efficiency projects will include upgrades in buildings whilst renewables will include the construction of small and medium-sized energy facilities.

The Marghera Levante combined-cycle gas

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