On March 1, the Italian government finally launched the Kyoto revolving fund, amounting to 600 million Euros for the reduction of GHGs emissions.

This tool will allow private companies and public institutions to receive subsidized loans to be invested in projects for renewable energy, energy efficiency and forest management.
The bank Cassa Depositi e Prestiti will manage the fund, divided in three annual installments of 200 million each. Applications for the loans will be open online from March 16 to July 14 on the bank website.

The fund is called revolving because the money paid off by the financed projects will be reinvested in new ones. It is expected however that applications will soon exceed the amount set for the first year and the Ministry of the Environment Land and Sea is already working to find additional resources. In particular, funds coming from the ETS system for CO2 emission credits will probably be available soon.
Projects presented by privates will be financed up to 70% of the total amount, while public institutions will receive the 90%. The interest rate will be 0.5%.

Of the 200 million annual available amount, a major share will be devoted to projects for thermal insulation of building, district heating and small biomass cogeneration plants. Other financed projects will be small renewable energy plants, diffused microgeneration and sustainable forestry management.

For more information please visit the Cassa Depositi e Prestiti Website (Italian Only)