(Alliance News) - Hera Spa announced Thursday EUR150 million in district heating investments for the period 2023-2026.

Of these, three Hera Group projects dedicated to district heating--in Bologna, Ferrara, and Forlì--have been awarded funding under the National Recovery and Resilience Plan, mission "Green Revolution and Ecological Transition," for a total amount of nearly EUR50 million.

The development of district heating, Hera explains in a note, will achieve significant environmental benefits: annual reduction of about 68,000 tons of CO2 emissions and 96 tons of NOx. In addition, when fully operational, methane gas requirements will be reduced by about 34 million cubic meters. With the three partially financed projects in the territories of Bologna, Ferrara and Forlì alone, 28,700 tons of CO2 emissions and the consumption of 12,500 tons of oil equivalent will be avoided each year

The new district heating development plan will thus also make a significant contribution to achieving the PNRR's target of reducing energy consumption by at least 20,000 tons of oil equivalent per year by 2026, thanks to district heating.

"We are very proud to be able to amplify investments in the territories also thanks to the contributions of the PNRR, a result that testifies to the validity of our projects and the skills of the professionals working in the company," says Cristian Fabbri, Central Market Director of Hera Group.

"The district heating development projects are part of the strategy outlined in our business plan, which includes numerous initiatives and investments to achieve carbon neutrality, reduce emissions, increase infrastructure resilience and promote the circular economy," he added.

"Interventions such as these further attest to and reinforce our commitment to the energy transition to lower fossil fuel consumption, which is also crucial in light of the current situation. An example of this is the greenhouse gas emission reduction target we have set ourselves, among the most ambitious for a company in Italy: 37 percent less by 2030 compared to 2019, validated according to the most rigorous scientific criteria by the prestigious international network Science Based Target initiative," Fabbri concluded.

Hera's stock trades in the red by 1.4 percent at EUr2.65 per share.

By Chiara Bruschi, Alliance News reporter

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