Investments of 1 billion euros in Greece (increased by 100 million euros compared to the previous plan) for the expansion of the natural gas distribution network, its digital transformation, the penetration of natural gas into areas not yet served, as well as the distribution of renewable gases is foreseen in the Strategic Plan of Italgas for the period 2024-2030, through its subsidiary Enaon.

These investments, as announced, will allow the expansion of the Greek network from 7,924 kilometers in 2023 to over 11,000 kilometers by the end of the Plan (approximately +40%) and the increase of the number of served consumers from 600,000 in 2023 to approximately 1 million by 2030.

The company’s Strategic Plan was presented today to analysts and investors by the managing director of Italgas, Paolo Gallo. It includes a total investment of 15.6 billion euros (an increase of 7.5 billion euros or +92% compared to the previous plan) and aims at the acquisition of 2i Rete Gas, interventions for the development of natural gas distribution in Italy and the Greece, the strengthening of the presence in the water sector and the strengthening of energy efficiency.

Mr. Gallo said: “The 2024-2030 Strategic Plan will go down in Italgas history as the plan that makes it Europe’s champion in natural gas distribution, further strengthening our commitment to the digital transformation of infrastructure, for the benefit of the whole country .

The new dynamics of the group, combined with innovation and digital transformation, is a decisive factor in ensuring the achievement of the goals of the energy transition, security of supply and sustainability of energy costs for citizens and businesses.

The €15.6 billion investment will give a strong boost to our growth path, with most of it redeployed to the development, digitization and transformation of the natural gas distribution network in both Italy and Greece. Our commitment to the widespread use of Artificial Intelligence will enable us to enter a new phase of digital transformation.

Digital transformation is a primary axis of our strategy and for the development of our activities in the field of water and energy efficiency. With investments of €750 million, we will continue to work to strengthen our role as a key player in the water sector – which has long suffered from a lack of appropriate smart investment in networks – and to develop energy efficiency as a key tool for achieving the goals of the energy transition.

The figures of this plan, with an average annual growth of 13% in EBITDA and net profit until 2030, demonstrate how the exceptional abilities of the women and men of Italgas and 2i Rete Gas can create value for shareholders and all stakeholders places, leveraging efficiency, innovation and sustainability’.