Italy: EIB lends EUR 300 million to Hera
The European Investment Bank (EIB) and the Hera Group signed in Milan an initial EUR 200 million tranche of an approved aggregate loan of EUR 300 million, intended to support the investments of the Italian multi-utility company listed on the Milan Stock Exchange.
Specifically, the EU bank’s loan to the Hera Group, to which the AcegasAps company belongs, concerns the 2012-2017 development programme involving a variety of projects on networks and plants located in the north-eastern regions of Italy: Emilia-Romagna, Veneto and Friuli Venezia Giulia.
This loan comes under the EIB’s traditional activities given the typical industrial focus and employment impact of the investments – currently a key aspect for the entire Italian economy. Indeed, there are expected to be positive employment repercussions for related activities during the implementation period of Hera’s multiannual investment plan.
This operation consolidates the EIB’s cooperation with the multi-utility company in which 180 north-eastern Italian municipalities have shareholdings. In recent years, two other operations amounting to EUR 305 million have been signed between EIB and Hera (in the fields of the environment and network development).