The European Investment Bank (EIB) and A2A today signed a EUR 200 million finance contract in Milan for distribution network projects to be carried out by the Lombardy multi-utility.
A2A Group’s investment programme for the five-year period 2010-2014 provides for investments in gas and electricity distribution networks for an amount in excess of EUR 400 million, particularly in the urban areas of Milan and Brescia.
For the EIB the project is in line with the criteria governing finance for the energy sector as it will increase the quality and reliability of the gas and electricity distribution networks.
The project will therefore contribute to the security and diversification of energy supplies in the metropolitan areas covered by the operations.
The operation will enable A2A to lengthen the average maturity of its debt and diversify its sources of funding, thus cementing the good relations that have traditionally existed between the bank of the European Union and the multi utility.
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The European Investment Bank supports the policy and strategic objectives of the European Union by providing long-term loans for economically viable projects. The EIB’s shareholders are the EU’s 27 Member States. Italy is one of the four major shareholders, together with the United Kingdom, Germany and France (each holding 16.2% of the capital).