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The new Genoa Bridge (aka San Giorgio) replacing Morandi Bridge
Triggered by the collapse of the Genoa Bridge in August 2018, the nearly three-year saga surrounding the Italian motorway has ended, with Atlantia accepting the CDP-led consortium’s €9.3bn offer.
Madrid Spain
Asterion Industrial Infra Fund I closed on its revised hard-cap and is already close to 60% invested.
The government has tabled a law decree to revoke the concessions of Autostrade per l’Italia, which it holds responsible for the deadly Morandi Bridge collapse in August 2018.
Solar panels, photovoltaic - alternative electricity source
Enel will seed the new entity, which builds on the two companies’ partnership in Italy, with some 200 distributed photovoltaic generation, co-generation, tri-generation and energy efficiency projects.
solar panels
The London-based firm, which has long focused on Italian renewables, will pursue subsidy-free projects in Europe through ‘alternative instruments to traditional funds’.
Autostrade, which holds the concession for the bridge, has been excluded from the project but will pay for the reconstruction.
Lynda Tyler-Cagni wanted to suspend bonuses for staff following the Morandi bridge disaster, but Atlantia said it was unable to do so, citing legal grounds.
The close comes after a ‘strict and intellectually rigorous process’ to roll over assets from the Italian group’s first fund, chief investment officer Carlo Michelini tells us.
The fatal collapse indicates a public-private failure. But confronting the formidable challenges of maintaining ageing infrastructure will require more – not less – public-private cooperation.
Potential crisis around trade, Brexit and Italy’s government could cause trouble for credit markets.
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