The circular economy is confirmed as the guide of the waste management sector, which makes provision for an investment plan of about 1.6 billion euros. 64% of this is earmarked for plant development related to waste treatment with 6 new plants on innovative supply chains (sludge treatment, organic fraction treatment, photovoltaic panel disposal, WEEE management, liquid waste treatment, MBT) and energy recovery with 2 new waste-to-energy plants and a fourth line to upgrade the existing plant in Turin, to enable territories to achieve full autonomy in urban waste management. The remaining 36% is devoted to collection activities for territorial development, through consolidations and tenders, for the increase of separate collection supported by the extension of the punctual pricing model, for the improvement of service quality together with cost efficiency, through the adoption of automated urban waste collection processes.

These investments enable EBITDA of 440 million euros to be achieved in 2030 (+195 million euros compared to 2023). 

The goal of decarbonising the generation fleet drives investments to 2030 through the increase of electricity generation capacity from renewable sources to over 2 GW (including hydro) in 2030 through the development of new greenfield solar and wind capacity and the development of energy communities.

In the hydropower sector, investments are planned for infrastructure safety and the renewal of expired concessions. With regard to natural gas-fired thermoelectric plants, the next few years will be characterised by the completion of efficiency and flexibility measures for cogeneration plants, also thanks to the installation of air-cooling plants', the development of district heating and the decommissioning of thermoelectric generation assets not functional to district heating (expected after 2027). Energy efficiency activities will be oriented towards energy upgrading projects for residential condominiums and public administration buildings also through public-private partnerships.

In support of these projects, a total of 2.5 billion euros is planned for investments aimed at supporting the achievement of an end-of-plan EBITDA of 440 million euros (+61 million euros compared to 2023, a year, however, positively impacted by extraordinary effects on the energy scenario and the Superbonus incentives totalling about 100 million euros).

Iren's commitment is aimed at increasing customer value, thanks to higher expected electricity consumption and to the further boost given by IrenPlus services/products, and at reducing the churn rate following the improvement of service quality, and a rebalancing of the mix of acquisition channels in favour of pull channels. Added to this is the development of 200 MW of 'seller' model energy communities. This model involves the sale of solar panels and the provision of services related to the management of the electricity produced. In 2030, the objective is to reach 2.6 million customers, with the main focus on electricity customers, also thanks to the complete liberalisation of the market subject to additional safeguards.

To support this commitment, investments of EUR 700 million are planned, which will allow the achievement of EBITDA of EUR 210 million (an increase of EUR 90 million compared to the standard profitability of the business unit).