Iniziative Bresciane S.p.A. (INBRE) will receive $55.6 million from the European Investment Bank (EIB) to improve and rebuild 13 river weirs and install 12 small run-of-river hydroelectric plants on the Arno River in Tuscany, Italy.

According to the reports, INBRE will lend the EIB funding to Iniziative Toscane (Intos), which will build the hydroelectric plants and rebuild the weirs. INBRE has over 25 years of experience in the development of hydroelectric energy projects. With the EIB’s help, INBRE will be able to rehabilitate the Arno River’s water management infrastructure, as well as reforest nearby areas, to strengthen the region’s climate resilience. The money will be used to lessen the environmental impact of existing architectural elements and to protect local biodiversity.

Moreover, the operation will contribute to the creation of about 10 MW of renewable energy capacity, with an anticipated annual efficiency of 55 GWh, as well as enhance the river’s flood safety. By contributing to the development of flood control on the Lungarno, special attention will be paid to the preservation of historical heritage in the areas of Sieci, Compiobbi, San Niccol and Isolotto. The funding will go toward the Italian government’s decarbonization goals, which are in line with the Paris Agreements, as well as the EIB’s climate action, pollution prevention, and climate change adaptation goals. The loan is part of the EIB’s Green Developer Financing Programme. This initiative focuses on projects involving renewable energy, energy efficiency, and green mobility.