SACE, EIB and InvestEU provides €150 million for Piedmont water services

 The financing will support Acqua Novara.VCO’s €300 million investment plan for 2025-2030. Two-thirds of the EIB loan is backed by SACE via its Archimede guarantee, while the remaining third is guaranteed by the European Union’s InvestEU programme. The planned work will help improve the quality of water and wastewater treatment services in the provinces of Novara and Verbano-Cusio-Ossola, benefiting over 450 000 people.

The European Investment Bank (EIB) has granted a €150 million loan to Acqua Novara.VCO to improve the efficiency and resilience of water infrastructure in the Italian provinces of Novara and Verbano-Cusio-Ossola. The EIB financed is backed by SACE’s Archimede guarantee - which covers two-thirds of the funding - and the European Union’s InvestEU programme - which covers the remaining €50 million.

The EIB green loan[1] – the first of its kind signed with the company – supports Acqua Novara.VCO’s €300 million investment plan for 2025-2030, aiming to improve water service efficiency in the 138 Piedmont municipalities served, benefiting around 450 000 people.

Funds will go towards the modernisation and construction of new wastewater treatment plants, water network upgrades and water loss reduction. The operation will also help make the water system more resilient to extreme weather events such as drought and floods, and improve water quality, further reducing pollutant exposure.

“This agreement confirms the EIB’s strategic role in enhancing the mutually supportive relationship between national financial instruments. The SACE guarantee and the InvestEU programme expand the impact of investment on the ground,” said Gelsomina Vigliotti, EIB Vice-President. “Investing in a more efficient and resilient water service will back the climate transition, protect public health and help to costs down for users.”

“We are committed to supporting the competitiveness and innovation of Italian companies, and we are pleased to provide our Archimede guarantee to help Acqua Novara.VCO to modernise and enhance the water system. Working in cooperation with the EIB, this strategic project will improve service and infrastructure resilience in Piedmont,” said SACE CEO Alessandra Ricci.

“We are pleased to have concluded this financing operation with the EIB, demonstrating the quality of our investment plan and the professionalism of our management. We would like to thank both the EIB and SACE (with which we are working for the first time) for supporting Acqua Novara.VCO’s project. This financing will enable us to implement our investment plan for 2024-2036, which exceeds half a billion euros. Whatever happens, we want to make sure we are ready for the effects of climate change,” added Acqua Novara.VCO President Emanuele Terzoli.