HELSINKI REGION WATER INVESTMENTS

Promoter – Financial Intermediary

HSY HELSINGIN SEUDUN YMPARISTOPALVELUT -KUNTAYHTYMA

Location

• Finland

Description

The project co-finances part of the 4-year (2024-2027) investment programme in water and wastewater services of the Helsinki Region Environmental Services (HSY) authority in the Helsinki metropolitan area. The programme mainly concerns the extension of supply network, the replacement of aging water distribution and sewer mains and upgrading of water production and wastewater treatment facilities.

Additionality and Impact

The project finances water supply and wastewater collection and treatment infrastructure in the metropolitan area of Helsinki, in Finland. It is in line with EU and EIB policy objectives of environmental protection and climate action and it will help mitigating market failures by financing infrastructure that generates positive externalities in the form of the cost savings from environmental protection, from avoided public health costs, a more robust climate resilient water supply system and reduced greenhouse gas emissions. These benefits would not be realised to the same extent without public intervention. The operation will allow for sufficient financial resources for the timely implementation of the project, as well as for the investments to be spread out and that the tenor of the loan links in with the economic life of the respective assets.

Objectives

The aim is to upgrade drinking water supply and wastewater treatment as well as the distribution networks in the promoter's service area. The investment is geared toward securing a sustainable management of water supply and wastewater treatment.

Sector(s)

• Water, sewerage - Water supply; sewerage, waste management and remediation activities

Proposed EIB finance (Approximate amount)

EUR 350 million

Total cost (Approximate amount)

EUR 706 million

Environmental aspects

The project will bring positive environmental and resource efficiency impacts through the upgrade of the water distribution mains, production infrastructure and other network as well as processes optimisation. Additionally, it enhances water supply infrastructure resilience and addresses climate adaptation and mitigation. Compliance with the EU Water Framework Directive (2000/60/EC), Drinking Water Directive (98/83/EC), Urban Wastewater Treatment Directive and EU and national environmental legislation will be verified during appraisal.

Procurement

HSY has to ensure that contracts for the implementation of the project will be tendered in accordance with the relevant applicable EU procurement legislation (Directive 2014/25/EU or 2004/17/EC, where applicable, as well as Directive 92/13/EEC) as interpreted by the Court of Justice of the EU, with publication of tender notices in the Official Journal of the EU (OJEU), as and where required.

Status

Signed - 21/10/2024