AGSM AIM invests on geothermal project in Verona, Italy

Rome: The AGSM AIM Group has announced investment on a geothermal project that aims to supply clean, renewable heat to the district heating network of the city of Verona in Italy. Further expansion of the project is also planned to the district heating plants in Vicenza.

AGSM AIM is public utilities company, with 61.2% ownership by the Municipality of Verona and 38.8% by the Municipality of Vicenza. The company is active in the fields of electricity, gas, district heating, energy efficiency, public lighting, telecommunications services, electric mobility and environmental hygiene. Geothermal energy has been included among the objectives and actions in the company’s strategic plan which places sustainability as one of their pillars for growth.

The geothermal project was initiated back in December 2023 when the Board of Directors of AGSM AIM approved the industrial and economic plan for the project. In the coming weeks, a company will be established for this venture.

Geothermal development is expected to have an effect on five of the company’s cogeneration plants in Verona located in Borgo Trento, Forte Procolo, Golosine, Centro Città e Banchette, and eventually in the district heating plants of Vicenza.

“A new chapter opens in terms o the use of renewable energy, with important environmental and economic benefits,” said Tomaso Ferrari, Councilor for the Environment and Ecological Transition of Verona.

“Investing in geothermal energy means recovering heat from a source that provides renewable energy with zero emissions. This is a project that the municipality strongly supports and which demonstrates how the energy transition can bring advantages both in environmental and social terms thanks to price stabilization. In recent years, the fluctuation in gas prices has created economic problems for many citizens in Verona.”

The project is expected to reduce the methane gas that is injected into the district heating plants, thus saving 40% of gas consumption and reducing CO2 emissions by approximately 30,000 tonnes.

“Thanks to this important technology,” added Federico Testa, President of AGSM AIM, “our Group confirms that it faces the challenges of the energy sector with a new vocation of values, always directed towards sustainable development and cost containment for citizens and businesses”.