Milan, 2 April 2021 - Italgas and Energie Rete Gas, the gas transportation company of the Energetica Group, have signed an exclusive agreement related to infrastructures in operation, under construction and under development owned by Energie Rete Gas in the Valle D’Aosta region.
The agreement envisages the acquisition by Italgas, subject to certain conditions precedent, of around 150 kilometres of pipelines owned by Energie Rete Gas in operation, under construction and under development in Pont Saint Martin, Gressoney la Trinité, Antey St. André, Torgnon, Verres, Ayas, Pollein, Pila, Valdigne, Chatillon, Cervinia and Valtournenche that will become an integral part of Italgas distribution network in Valle D’Aosta.
The value of the transaction includes a RAB of around €16 million for networks currently in operation, which will increase up to €85 million with the completion of those under construction and under development.
The successful conclusion of the transaction will accelerate the development of the distribution network in Valle d'Aosta thus fully implementing the development plan presented in the ATEM tender, based on more than €100 million of investments, which includes among other things the methanization of further 17 municipalities and the doubling of the number of customers served from the current 20,000.
Paolo Gallo, CEO of Italgas, commented: "This transaction allows us to join forces with an important company in the Valle d'Aosta region, achieving a significant goal: accelerating the development of the regional distribution network compared to the plan presented in the tender, thus generating significant benefits for the area. In the particular times we are living through, investments in infrastructure represent one of the most effective tools for contributing to the relaunch of the local economy, creating value and work for the communities".