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09/09/2015

A €129 million loan from the EIB to the Hera Group

A €129 million loan from the EIB to the Hera Group

The European Investment Bank (EIB) and the Hera Group signed a loan agreement for €129 million, a sum that will be used to support the 2015-2019 development plans of the Italian multi-utility company listed on the Milan Stock Exchange.

The loan from the bank of the European Union will be utilized for several projects on networks and plants located in the North-East of Italy: Emilia-Romagna, Veneto and Friuli Venezia Giulia.

In particular, the funds will be invested to upgrade and expand the gas and electric energy distribution networks and public lighting plants.

This loan is consistent with the EIB’s policy of providing finance for industrial activities, with an impact on employment levels, a crucial aspect in this particular phase of the Italian economy. In fact, it is estimated that the Hera Group’s implementation of its multi-year investment plans will have positive spillover effects in terms of job creation.

The new loan will enable the Hera Group to strengthen further its financial structure and marks another milestone in the collaboration between the EIB and the multi-utility. In fact, in the last three years the EIB and Hera signed three other loan agreements (for investments in waste management and the network) for a total of €600 million. 

 
Online since 09-09-2015 at 17:16
 
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