14 Mar 2019
EUR 102.26 million
Financial institutions and SMEs
|Date of loan:||6 Jun 2011|
|Customer:||Turun Seudun Vesi Oy|
|Amount in EUR:||EUR 50 million|
|NACE sector / loan type:||Collection, purification and distribution of water|
|Business area:||Infrastructure, transportation and telecom|
The 30-year-maturity loan totalling EUR 50 million has been provided for financing a Managed Aquifer Recharge (MAR) project in the Turku region in Finland. The artificial recharge project of the Virttaankangas aquifer is a solution implemented by Turun Seudun Vesi in order to safeguard the water supply for seven municipalities with about 290,000 inhabitants.
Turun Seudun Vesi Oy (Turku Region Water Ltd), owned by the seven municipalities in South-West Finland, acquires and supplies water for the Turku region.
Clean drinking water and a secure supply of water are key elements in the local economy of the Turku region and one of the most important cornerstones in building and maintaining a competitive economy.
This is a project with a potentially extensive environmental and/or social impact (category A, read more)
The key environmental issue relates to the long-term changes in the groundwater quality in the Virttaankangas esker area. The quality of infiltrated water is regulated by EU directive 2006/118/EU. As artificial and natural groundwater mix over time, the quality of the groundwater will inevitably change. However, artificial groundwater will not significantly differ from natural groundwater and thus all groundwater resources in the Virttaakangas esker area will remain potable.