E-GAP launches major Rome bus electrification project
Deal News | Jun 10, 2025 | Legal Community Italy
Chiomenti has advised E-GAP on launching a significant electrification project for a fleet of public buses in Rome, based on the Fleet-as-a-Service model. The project, which is one of the largest in Europe, involves introducing over 250 electric buses to serve two strategic areas of the city: Rome East and Rome West. These buses will cover more than 100 million kilometers and utilize over 100 high-power charging points entirely powered by certified renewable energy. The total investment is approximately €100 million, with the equity component provided by the Green Arrow Infrastructure of the Future Fund (GAIF). International banks, including Bayerische Landesbank and Banco BPM, are supporting the project through a structured financing with SACE-backed guarantees. Aletti Fiduciaria played an operational support role as an escrow agent. Chiomenti's legal team, led by partners Carola Antonini and Filippo Modulo, provided legal assistance, while Green Horse advised banks on contractual and regulatory matters, managing legal risks related to the Fleet-as-a-Service model.
Sectors
- Public Transportation
- Renewable Energy
- Legal Advisory
Geography
- Italy – The project is set in Rome, Italy, focusing on the city's public transportation infrastructure.
Industry
- Public Transportation – The article discusses the electrification of a public bus fleet in Rome, which is a significant development in the public transportation sector.
- Renewable Energy – The project emphasizes the use of charging points powered by 100% certified renewable energy, highlighting its relevance to the renewable energy industry.
- Legal Advisory – Chiomenti and Green Horse are legal firms involved, indicating this sector's role in structuring and advising on the project.
Financials
- €100 million – The total investment amount for the electrification project of the bus fleet.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| E-GAP | Initiator | Company | E-GAP is leading the electrification project of the bus fleet in Rome. |
| Green Arrow Infrastructure of the Future Fund (GAIF) | Equity Provider | Company | GAIF provided the equity component of the €100 million investment. |
| Bayerische Landesbank | Bank | Company | An international bank part of the financing consortium. |
| Banco BPM | Banca agente and SACE agent | Company | An Italian bank structuring the financing secured by SACE guarantees. |
| Aletti Fiduciaria | Escrow Agent | Company | A subsidiary of Banco BPM providing operational support as escrow agent. |
| Chiomenti | Legal Advisor | Company | Chiomenti is the legal firm advising E-GAP in the project. |
| Green Horse | Legal Advisor | Company | Advised banks on contractual and regulatory matters related to the Fleet-as-a-Service model. |
| SACE | Guarantor | Government | Italian export credit agency providing guarantees for the project's financing. |