Águas de Portugal concludes assignment of 41.7 ME of municipal debt to the EIB

The operation, which was completed on September 15, involves 18 municipalities and the companies Águas do Norte, Águas do Centro Litoral, Águas do Vale do Tejo and Águas Públicas do Alentejo, the group explains, in a statement sent to Lusa.

The global amount of 41.7 million euros refers to municipal debts to companies in the group that were held by regularization agreements signed in 2019.

AdP states that, with this operation completed, the debt of the group’s customers is reduced by about 11% and allows the obtaining of funds to invest in water supply and sanitation infrastructures.

Those investments, he adds, will allow to increase its own production of 100% renewable energy, foreseen in the Zero Program, which is underway and aims to achieve energy neutrality in 2030.

The benefits for which the debt was transferred start to benefit from a “more favorable” interest rate and maintain the conditions set out in the agreements previously concluded, such as, for example, the extension of the payment period to 25 years and a reduction in accrued interest.

The operation in question was carried out under a framework agreement signed between the companies of the AdP group and the EIB, “which constitutes a financial instrument to remedy the payment difficulties of local authorities and other entities managing municipal water supply systems. water and urban wastewater sanitation and which provides for a remaining amount of 160 million euros, which can be used for similar agreements with other municipalities ”, explains AdP.

MPE // MSF

Leave a Reply

Your email address will not be published. Required fields are marked *