INTESA SANPAOLO SUPPORTS THE RENEWAL
OF THE GRIMALDI LINES ECO GREEN FLEET
- Two loans for a total of €70 million concluded for the purchase of the vessels Eco Mediterranea and Eco Adriatica
- The new high-tech, eco-friendly hybrid ships continue the Grimaldi Group's energy transition process
Milan/Naples, 17 October 2022 – Intesa Sanpaolo has concluded two loans for a total of €70 million to Grimaldi Euromed, a Grimaldi Group company specialising in the transport of rolling cargo in Europe and the Motorways of the Sea and in passenger transport in the Mediterranean under the Grimaldi Lines brand.
The transaction, structured by Intesa Sanpaolo's IMI Corporate & Investment Banking Division led by Mauro Micillo, consists of two loans for the purchase of the new ships Eco Mediterranea and Eco Adriatica, the tenth and eleventh of the Grimaldi Green 5th Generation (GG5G) class, respectively. The transaction confirms Intesa Sanpaolo's support for the energy transition and NRRP-related investments.
Both lines of credit are characterised by a pricing mechanism linked to the achievement of specific ESG (environmental, social and governance) targets. The transaction's sustainability goals include, on the one hand, a significant reduction of pollutant emissions, and, on the other, the expansion of the use and installation of photovoltaic systems on individual ships.
The latest-generation engines of the Eco Mediterranea and the Eco Adriatica allow CO2 emissions to be halved and sulphur and particulate emissions to be reduced, while the lithium batteries on board, thanks to their ability to be recharged during navigation, will ensure the achievement of the "zero emissions in port" objective.
Richard Zatta, Global Corporate Head of Intesa Sanpaolo’s IMI Corporate & Investment Banking Division, commented: "The Grimaldi Group represents excellence in the freight market and has long shown a constant commitment to improving its environmental sustainability profile. We are therefore happy to continue to support this player in the maritime transport sector, which today represents an area of continuous growth, fundamental to Italy's economic development. In fact, the maritime economy is becoming increasingly green, which contributes to making the companies operating in it more competitive nationally and internationally, and to accelerating the ecological transition process."
On this important financial transaction, Diego Pacella, CEO of Grimaldi Euromed S.p.A., commented: "We would like to thank Intesa Sanpaolo which, with these new loans, consolidates its relationship with the Grimaldi Group, concretely demonstrating its commitment to the transition to a low-emission economy, in order to achieve global climate goals. The Eco series of ships, financed by this transaction, are highly innovative and advanced from the point of view of environmental sustainability, thanks to years of research and design that have achieved an unprecedented result in terms of reducing the carbon footprint per unit of cargo transported. We also very much appreciated the innovative aspects of these credit lines, which set concrete goals in terms of environmental sustainability, with a direct impact on pricing."
Corporate & Investment Banking and Governance Areas
Last updated 17 October 2022 at 10:57