Date de publication: 13 juin 2024
Promoteur – Intermédiaire Financier
VIVERACQUA SCARLLieu
Description
The project will support the 2024-2026 water investment programmes of eight small to medium water utilities in the Italian region of Veneto. Such programmes are based on the investment plans agreed by the water utilities with their local regulator.
Additionality and Impact
The Project supports investments in water and wastewater infrastructure by various utilities providing Integrated Water Services in the Veneto Region, Italy. It ensures compliance with key European regulations in the water sector and improves the coverage and quality of water services. The Project contributes to the Bank's policy objectives of Sustainable Energy and Natural Resources as well as Climate Action and Environmental Sustainability.
It addresses a number of market failures through positive externalities in the form of environmental and public health benefits, notably improved resilience of water distribution systems against future droughts and reduced exposure to Per- and polyfluoroalkyl substances (PFAS) known as eternal pollutants. In the summer of 2013, the Veneto regional environmental protection agency reported that these substances (PFAS) had been found in the groundwater, surface water and drinking water of the Veneto Region. The source of the pollution incident being a former chemical factory, Miteni SpA, located in Trissino (province of Vicenza), albeit the contaminated area covered three provinces (180 km2, with 300,000 people affected). These benefits are not reflected in water tariffs and would not be realised to the same extent without public intervention.
Furthermore, the Project addresses a chronic investment gap in water services in Italy and provides long-term finance at attractive terms compared to commercial banking funding, through an innovative product (securitisation of mini-bonds), fostering the creation of an alternative way to access traditional EIB financing. EIB's participation as an anchor investor facilitates the crowding-in of other investors and positively impacts the utilities' stability and diversification of financing.
Objectifs
Through innovative structured financing, the investments will support a large number of activities in the following sectors: i) water supply augmentation; 2) interconnection of water distribution mains; 3) water treatment upgrade; 4) non-revenue water reductions.
Secteur(s)
- Eau, assainissement - Production et distribution d'eau; assainissement, gestion des déchets et dépollution
Montant BEI envisagé (montant approximatif)
EUR 100 million
Coût total (montant approximatif)
EUR 341 million
Aspects environnementaux
The capacity of the Utility Companies with regards to Environmental and social aspects will be assessed during appraisal. The above-mentioned facilities are likely to fall under Annex II of the environmental impact assessment (EIA) Directive 2011/92/EU amended by the Directive 2014/52/EU, SEA Directive (2001/42/EC), Habitats Directive (92/43/EEC) and Birds Directive (2009/147/EC). The project is expected to bring substantial public health and environmental benefits from improved access to safe and resilient water services, reduced greenhouse gas emissions from reduced water losses, a more rational use of water resources and protection of local groundwater. The project is expected to contribute to climate action and environmental sustainability (CA&ES) objectives, in particular to climate adaptation, pollution prevention and control, sustainable use and protection of water and marine resources.
Passation des marchés
The EIB requires the Utility Companies to ensure that contracts for the implementation of the project will be tendered in accordance with the applicable EU procurement legislation Directives 2014/23/EU, 2014/24/EU or 2014/25/EU, where applicable, as well as Directives 92/13/EEC and 89/665/EEC as interpreted by the Court of Justice of the EU, with publication of tender notices in the EU Official Journal, as and where required.
Statut
Signé - 23/09/2024
Clause de non-responsabilité
Avant d’être approuvés par le Conseil d’administration et avant la signature des prêts correspondants, les projets font l’objet d’une instruction et de négociations. Par conséquent, les informations et données fournies sur cette page sont indicatives.
Elles sont fournies à des fins de transparence uniquement et ne peuvent être considérées comme représentant la politique officielle de la BEI (voir également les notes explicatives).