EIB Lends EU115 Million For A2A's Investment Programme Support For Integrated Waste Management And Hydropower Investment
Milan, Italy (GLOBE NEWSWIRE) - The European Investment Bank (EIB) and the multi-utility A2A have signed a 15-year €115 million loan agreement to finance integrated waste management and hydropower investments.
The integrated waste management investments (A2A's environment sector) comprise:
- the upgrading of waste-to-energy plants in Brescia and Milan to increase their energy efficiency
- the acquisition of low emission waste collection vehicles in the areas of Milan, Brescia, Bergamo, Varese and Como;
- the construction of a new glass recovery facility in Asti.
The hydropower schemes (A2A's energy sector) are aimed at maintaining and increasing the energy efficiency of plants located in Lombardy and Calabria.
All schemes meet the EIB's eligibility requirements for financing in the energy and environment sectors. They will lead to an increase in power generation from renewable sources and more efficient material recovery, with resultant environmental benefits. At the same time, they will help to improve the safety and reliability of the plants concerned.
Today's agreement is in line with A2A's financial strategy of lengthening the average duration and reducing the cost of its debt and diversifying its financing sources. It will also serve to strengthen relations between the A2A Group and the EIB.
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SOURCE: A2A SPA