Snam, an Italian energy infrastructure company, and CDP, a private equity firm, formed an $182m Renovit joint venture, Italian platform launched to promote energy efficiency of apartment buildings, companies and the public administration whereby fostering the sustainable development and the energy transition. "Today’s agreement marks a further step in the implementation of CDP’s Business Plan in line with the sustainable development goals set by the UN 2030 Agenda and with Italy’s Integrated Plan for Energy and Climate. Cassa Depositi e Prestiti is carrying out a strategic and operational transformation to be ever closer to the needs of the public administration and the business environment, which also turns beneficial to citizens. This initiative is part of the process aimed at broadening CDP scope of work which is taking on the role of a real strategic partner for local authorities," Fabrizio Palermo, CDP Equity CEO. CDP and Snam will own 30% and 70% in the company respectively.