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Iren: 80 million loan signed with Ceb for water infrastructure in Liguria

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Iren SpA and the Council of Europe Development Bank (CEB) have signed a green financing of the Public Finance Facility (PFF) type for an amount of 80 million euros, which can be used in several tranches with a duration of up to 16 years, which will serve to finance part of Iren’s water infrastructure investment plan in the provinces of Genoa and La Spezia. A sustainable use of water resources and an improvement in the conditions of the territories “in which we operate are the basis of the 2030 Industrial Plan of the Iren Group” underlines Luca Dal Fabro, President of the Iren Group. “For this reason we are very satisfied with the collaboration with the Development Bank of the Council of Europe, whose support allows us to guarantee high levels of service to citizens, improving their quality of life. A continuous and constant commitment which led to a further reduction in water losses in the networks we manage in 2023. which now stand at 30,4 percent, compared to a national average of over 41 percent.”

The investments will concern the expansion and improvement of the aqueduct and sewerage network and purification systems and are aimed at developing an increasingly sustainable use of water resources also through the consequent reduction of network losses. In concrete terms, thanks to these improvement interventions, over a million people will benefit from more efficient water services, with a positive impact on living conditions and greater resilience of local communities to natural disasters. The promotion of sustainable management of water resources is closely aligned with the strategic priorities of the CEB, which pursues the Sustainable Development Goals (SDGs) defined by the UN, such as SDG 6 (Clean water) and SDG 13 (Actions to combat change climate).

Iren also recognizes these factors as strategic pillars underlying future growth, as evident from the high percentage of investments envisaged in the Industrial Plan for the water sector. This credit line arises from the consolidated cooperation between CEB and Iren in the sector of environmental sustainability and follows the two previous loans of the same amount aimed at improving the water infrastructure in Genoa and Parma and the development of district heating in the Turin metropolitan area. It also represents an important contribution to strengthening Iren’s financial structure with particular benefits in terms of duration, cost of debt and increase in the sustainable finance instruments used.

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