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Etra Obtains a 100 Million Euro Loan from the EIB to Strengthen Recycling Plants

Etra, a benefit company managing integrated water and environmental services in Veneto, secured €100 million in financing from the European Investment Bank (EIB) for 20 years. This investment, part of the InvestEU program, aims to upgrade recycling plants, water services, and promote a circular economy. Etra’s 2022 revenues were nearly €170 million.




The objective is to strengthen the recycling plants and the integrated water service in Veneto. Thus Etra, a benefit company , a multi-utility with total public participation and concessionaire for the management of the integrated water service and the integrated environmental service in the Brenta River Basin, collected 100 million euros. The European Investment Bank (EIB) signed the financing agreement, which will have a duration of 20 years.

BonelliErede supported Etra with the Energy, Infrastructure and Ecological Transition focus team

Etra’s internal legal team that followed the operation is made up of Francesca Prisco and Giulia Lando, respectively manager and member of Etra’s Legal Operational Unit.

Etra’s activity takes place within the Brenta river basin, which extends from the Asiago Plateau to the Euganean Hills, including the Bassano area, Alta Padovana and the urban belt of Padua. This territory, through its representatives (70 Municipalities, the Brenta Basin Council for water and the Brenta Basin Council for waste), has entrusted ETRA with essential tasks for the community: the management of water services and integrated environmental services.

According to a press release from the European Commission, the EIB financing is supported by InvestEU, the European Commission’s investment program of which the EIB Group is the main partner, which aims to activate investments of over 372 billion euros by 2027. The EIB Group’s commitment in Italy within InvestEU has already generated important economic impacts in the country, with financing of around 2.7 billion euros .

In detail, the main interventions financed with the resources made available by the EIB include the renovation and construction of waste treatment and water supply plants, the purchase of biomethane-powered vehicles and the extension of water networks. The project will therefore contribute to promoting climate action and the transition towards a more circular economy, key objectives of the European Green Deal.

It is no coincidence that the EIB had already financed the modernization and efficiency of the water network in Veneto by subscribing in 2022 to the Hydrobonds issued by the Viveracqua consortium , a long-term issue worth 148.5 million by six managers associated with Viveracqua.

“This is a great example of how the InvestEU program together with the EIB promotes the transition towards a greener and more resilient economy,” said European Commissioner for Economy, Paolo Gentiloni. “The agreement will support investments in recycling plants and water services in the Veneto region, helping to advance towards a more circular economy, protect our natural resources and mitigate the impacts of climate change,” he continued.

According to the Vice President of the EIB, Gelsomina Vigliotti, the agreement “demonstrates the closeness of the EIB to Italian utilities and represents a significant step to support the transition towards a more circular and resilient economy, promoting innovative solutions that will contribute to protecting the environment and improve the quality of life of citizens.”

The director of Etra, Domenico Lenzi , recalled that the company has obtained the assignment of the integrated environmental service for 15 years from 2023 and has therefore been able to plan substantial investments to improve the sustainability of its activities. At the same time, investments in the water sector, to increase resilience and resistance to climate change, have also been growing steadily since 2020.

Etra closed 2022 with almost 170 million euros in revenues, 20.8 million in ebitda and 144 million in net financial debt

“The support of the EIB and the European Commission is therefore very important to support Etra’s circular economy both for the duration (higher than that normally available on the credit market) and for the very advantageous conditions,” declared the director of Etra.

With more than 1,600 projects and around 80 billion euros in financing disbursed from 1958 to today, the EIB is one of the main financiers of the water sector worldwide. In particular, Italy has been the largest beneficiary of EIB resources dedicated to the water sector in the last 5 years, with 40 operations financed for a total of 3.75 billion euros. Over the last five years, the EIB Group has provided financing for projects in Italy amounting to more than 58 billion euros.


(Featured image by Henrique Ferreira via Unsplash)

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First published in Be Beez. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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Jeremy Whannell loves writing about the great outdoors, business ventures and tech giants, cryptocurrencies, marijuana stocks, and other investment topics. His proficiency in internet culture rivals his obsession with artificial intelligence and gaming developments. A biker and nature enthusiast, he prefers working and writing out in the wild over an afternoon in a coffee shop.

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