From EIB EUR435 million to Acea to improve water service
Summary
(Alliance News) - The European Investment Bank announced Thursday that it has provided EUR435 million to Acea Spa, which will use the funds to improve the quality and resilience of its water service.The EIB is co-financing the 2023-2026 investment plan of Acea Ato 2, a group company responsible for managing water service in Rome and metropolitan area, to support the modernization of water and wastewater infrastructure, improving the coverage and quality of integrated water services and making operational efficiency improvements, such as reducing water losses and increasing energy efficiency.The resources provided by the EIB will also help increase service resilience against future extreme weather events, such as drought, through investments in network efficiency, water system interconnection, and water resources management.With this transaction, EIB is confirmed as Aceas largest lender of choice, with around EUR1 billion in total credit facilities, further consolidating the already excellent relationship between the parties. "As the EUs climate bank, we are pleased to support ACEA Ato 2s investment plan for its integrated water service, helping to improve the quality of life for citizens and ensuring a more reliable, sustainable and resilient water supply," said Jean-Christophe Laloux, EIB director general for operations. "This financing to support investment in the improvement and development of the city of Romes water infrastructure is a clear recognition of Aceas commitment to sustainable infrastructure development and consolidates the groups relationship with EIB, which is one of the largest financiers of the water sector in Europe," said Sabrina Di Bartolomeo, Aceas chief financial officer.Aceas stock is down 3.0 percent at EUR11.44 per share.Copyright 2023 Alliance News IS Italian Service Ltd. All rights reserved.