EIB lends €30m to Italian water utility ACA for network expansion
The first €20 million tranche was signed by the Head of the EIB Local Office in Italy, Milena Messori, and by the CEO of ACA, Giovanna Brandelli. Image courtesy EIB.
The European Investment Bank (EIB) has announced a €30 million ($31.1 million) loan to water utility Azienda Comprensoriale Acquedottistica (ACA) for water network expansion and enhanced management.
The EIB said that the first tranche of €20 million ($20.8 million) was signed together with the announcement.
The InvestEU-backed financing will support ACA’s water and wastewater investment programme for 2024-2026.
Key initiatives set to receive the financing include expanding the water network to provide wider and more reliable access to water and introducing advanced technologies for better water quality and wastewater management.
In parallel, solutions will be implemented to optimise operational processes, cutting costs and increasing the overall efficiency of the water system.
This is the first EIB green loan to be granted to a business in Abruzzo. EIB green loans go to projects focusing on sustainability, climate action and environmental protection.
The focus on improving the sector’s resilience to future extreme climate events will strengthen the region’s ability to face droughts and water crises. This project will have a positive impact not only on the management of water resources, but also on people’s quality of life.
The agreement also forms part of an existing partnership between the EIB and the city of Pescara, which in March 2022 received €35 million ($36.3 million) in financing for the renewal of waste sorting facilities, the purchase of low environmental impact vehicles and the improvement of energy efficiency in schools and public buildings.
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Commenting in a release was head of the EIB Local Office in Italy, Milena Messori: “This agreement reaffirms our commitment to Italian utility companies and to the improvement of water infrastructure in Italy.
“With InvestEU backing, we are helping ACA Pescara to cut water losses, improve efficiency and provide high-quality water services, even when confronted with climate change-related challenges.”
Added the CEO of ACA, Giovanna Brandelli: “This is the first EIB green loan to be granted to a business in Abruzzo.
“This €30 million loan to ACA will hugely improve the region’s water network and provide a better service in the coming years. This is the first time that ACA has received such financing like this from a prestigious bank like the EIB.
“This shows that the path taken by the company is starting to bear fruit and is having a positive impact on the service provided. The focus on improving the sector’s resilience to future extreme climate events will strengthen the region’s ability to face droughts and water crises like the one that hit Abruzzo in 2024”.
According to the EIB, Italy’s water sector to date has received more financing from the Bank than any other country, seeing operations financed totalling more than €4 billion ($4.2 billion).
EIB recently announced financing for Iren (€200 million), Valle Umbra Servizi (€35 million), ETRA (€100 million), Acquedotto Pugliese (€270 million), Como Acqua (€50 million), Hera Group (€460 million), ACEA (€435 million), Acque (€130 million) and CIIP (€50 million).
ACA is the utility company providing integrated water services to around 450,000 people in the Italian provinces of Pescara, Chieti and Teramo.
