The European Investment Bank and the Hera Group have signed a 129 million euro loan agreement aimed at supporting the 2015-2019 development program of the Italian multi-utility listed on the Milan Stock Exchange.
The loan from the Bank of the European Union will be used for various network and plant projects in the regions of northeastern Italy: Emilia-Romagna, Veneto and Friuli Venezia Giulia.
In particular, the loan line will be used to finance investments for the upgrading and expansion of the gas and electricity distribution networks and public lighting systems.
This loan is part of the EIB's traditional activity policies, both for its industrial nature and for its employment impact, a crucial aspect in this phase for the entire Italian economy. It is in fact estimated that in the period of implementation of the multi-year investment plan of the Hera Group there will also be positive effects on employment in related industries.
"The operation represents for the Hera Group an important contribution to the consolidation of its financial structure - reads the note from the group - and consolidates the collaboration of the EIB with the multi-utility: in fact, in recent years, three other operations have been signed between the EIB and Hera (for investments in the environment and networks) for a total of over 600 million euros”.
