Description
The liquidity support measure is being implemented as part of the Energy Protocol scheme between the Autonomous Province of Trento, Cassa del Trentino S.p.A., banks, financial intermediaries and credit guarantee consortia. Businesses that take out credit facilities (the ‘Energy Facility’) with banks participating in the Energy Protocol will receive a grant from the Province, aimed at reducing the cost of borrowing.
Key features of the ‘Linea Energia’ credit facility
- TERM: maximum 8 years (including a 2-year grace period)
- GRAACE PERIOD: 2 years with a maximum all-inclusive fixed annual rate of 3 per cent (interest payable in arrears by the end of the 12th and 24th months following the disbursement of the loan)
- AMORTISATION PERIOD: maximum 6 years, at a variable annual rate not exceeding the 6-month Euribor plus a maximum spread of 250 bps
- CONFIDI GUARANTEE
Entities participating in the Energy Protocol
The banks through which the ‘Linea Energia’ scheme can be accessed are:
- Cassa Centrale Banca (Cassa di Trento Lavis Mezzocorona Valle di Cembra e Alta Vallagarina, Cassa Rurale Alta Valsugana, Cassa Rurale Alto Garda – Rovereto, Cassa Rurale di Ledro, Cassa Rurale Novella e Alta Anaunia, Cassa Rurale Vallagarina, Cassa Rurale Valsugana e Tesino, Cassa Rurale Val di Fiemme, Cassa Rurale Val di Non – Rotaliana e Giovo, Cassa Rurale Val di Sole, FPB Cassa di Fassa Primiero e Belluno, La Cassa Rurale Adamello Giudicarie Valsabbia Paganella);
- Mediocredito Trentino Alto Adige;
- Raiffeisen Schlern-Rosengarten;
- Sparkasse;
- Volksbank.
Cooperfidi and Confidi Trentino Imprese have also signed up to the Energy Protocol and are responsible for providing guarantees on the credit facilities drawn down by economic operators under the Energy Protocol.
Contribution scheme
The subsidy is a flat-rate amount of 1.50 per cent, calculated on the value of the loan amount and relating to the first two years of the loan term. The subsidy is paid in a single instalment following payment of the first interest instalment.
In accordance with the provisions of DGP 39/2024, with effect from 7 February 2024, the grant will be awarded under the de minimis schemein accordance with the new Regulation 2023/2831. Until 30 June 2024, the grant may be awarded under the old de minimis regulation (Regulation 1407/2014, as amended) only if this is more favourable to the applicant in terms of the aid ceiling.
For operators active in the primary production of agricultural products and in the fisheries and aquaculture sectors, in accordance with the provisions of DGP 1069/2024, the grant will be awarded under the Temporary Crisis and Transition Framework until 31 December 2024. From 1 January 2025, grants will be awarded under the de minimis rules in accordance with the new Regulation 2023/2831 or, where this does not apply, in accordance with Regulation 1408/2013 and Regulation 717/2014, in compliance with the applicable maximum thresholds.
For businesses active in the processing and marketing of agricultural products and non-agricultural agri-food products, in the forestry sector, and for those carrying out activities related to the agricultural, forestry, fisheries and aquaculture sectors, from 1 July 2024 grants will be awarded under the de minimis scheme in accordance with the new Regulation 2023/2831.
Restrictions
Obligations
Receipt of the grant entails the following obligations:
- not to repay or reduce the loan during the grace period;
- to retain and make available, upon request by the relevant provincial authority and for a period of two years following the date of disbursement of the loan, the documentation certifying compliance with the eligibility criteria for the grant;
- to notify the Bank promptly, and in any event within 30 days of the occurrence of any events, of any changes relevant to the granting of the loan and the related grant or to the continued entitlement to them.