The European Investment Bank (EIB) today signed a EUR 100m finance contract with the Romagna-based multi-utility ENIA to help it implement its integrated environmental project in Parma.
The EIB funds will cover nearly half of the project investment cost and will be used chiefly for the construction and commissioning of a new waste-to-energy plant that will serve the provincial capital Parma and, indeed, the whole Province. The facility will have an annual handling capacity of 130 000 tons of waste which, when processed, will generate 18 MW of electricity and 40 MW of heat. This heat will be channelled via a 7.5 km two-tube pipeline to Parma’s existing district heating network. The project was devised in accordance with the Province of Parma’s Waste Management Plan and will contribute to the objectives of reducing the amount of untreated biodegradable waste going to landfill and recovering energy through the process of waste incineration, which is considered to be a renewable source of energy.
The operation signed today is the second to be concluded between the EIB and ENIA, a listed company whose major shareholders are the municipalities of Parma, Piacenza and Reggio Emilia, with almost 44% of the capital, and it confirms the excellent relationship between them and the Bank's appreciation of the quality of projects prepared by ENIA. A year ago the EIB signed a EUR 100m loan with ENIA for the multi-utility’s overall investment plan in the water sector in the three western provinces of Emilia Romagna.
Note:
EIB
The European Investment Bank supports the strategic and policy objectives of the European Union by granting long-term loans for economically viable investment projects. The EIB’s shareholders are the 27 EU Member States. Italy is one of the four leading shareholders, along with the United Kingdom, Germany and France, each holding a 16.2% stake in the Bank. At end-2008, the EIB’s total financing amounted to EUR 355bn, of which EUR 45bn went to Italy.