Banco BPM finances Inalca with €40 M for sustainable projects
"To invest more in renewables, accelerating the transition from biogas to biomethane"
Banco BPM recently completed a financing transaction for a total of 40 million Euros in favor of Inalca (Cremonini Group), leader in Italy and one of the major European players in the beef sector. The five-year loan is intended to give further impetus to Inalca's already launched growth strategy based on technological innovation in the context of green and circular economy policies.
"Inalca has always approached the issues of sustainability in a pragmatic way, considering them as a strategic asset of the business and part of the economic value of the company, achieving a fully integrated beef chain between breeding, processing and distribution - explained the CEO of Inalca Paolo Boni. Now, thanks to the financial support of Banco BPM, we will be able to invest more in the production of energy from renewable sources, accelerating the transition from biogas to biomethane, in line with the provisions of the European REPowerEu plan which aims to reach 15% of all the gas needs covered by biomethane".
Investments will be addressed in the following areas: precision animal husbandry, recovery of production by-products, renewable energy (photovoltaic systems and biomethane production in controlled farms), cogeneration for energy efficiency, sustainable supply chain integration process.
"The operation - specifies a note - will allow Inalca to substantially reduce total emissions of greenhouse gases. Already today the company is totally self-sufficient for its energy production, with a percentage of renewable energy used equal to 45% and constantly growing".
The loan in question is part of the “Sustainable Investments 2020-2023” ceiling offered by Banco Bpm to meet the ESG needs of the business world.
"This operation in favor of Inalca confirms Banco Bpm's attention to the agri-food sector and to those companies capable of achieving virtuous growth paths both in Italy and abroad - commented Corrado Nangeroni, Large Corporate Manager of Banco BPM - In almost 60 years of activity, thanks to innovative technologies and a strategy strongly oriented towards sustainability, Inalca has been able to impose itself for the quality of its products, becoming the absolute leader in Italy and among the main operators in the sector in Europe".
With 2021 turnover of 2.38 billion Euros, 8,000 employees, 26 production plants (of which 8 abroad), 54 distribution platforms in the world and 9 agricultural companies, Inalca is one of the main food companies in Italy and an international player in the reference market.
EFA News - European Food Agency