Sources from Cieza City Council indicate in a statement that, for months, the municipal government has been working to obtain a ten-year loan worth 1.4 million euros and zero interest from the IDAE (Institute for Energy Diversification and Savings), which would be used to replace the city's public lighting fixtures.
Once all the procedures for obtaining the aid were completed, the IDAE (National Institute of Agricultural Development) issued the corresponding resolution granting the loan. It should be noted that not having to pay interest would already represent an estimated saving of approximately €297,000. The new LED lighting fixtures will significantly improve lighting and have the unique advantage of generating significant cost savings due to their lower consumption.
Thus, once the lights are replaced, it has been estimated that they will generate savings equivalent to the loan repayment amount, meaning they will generate savings of €1.4 million over ten years, which is equal to the maximum loan amount that would have to be repaid.
For all these reasons, according to reports from the Department of Finance and Contracting, once the Plenary Session approves the acceptance of the grant, the open contracting process will continue to award the contract for the lighting replacement, and the loan will be processed. Therefore, it is estimated that work could begin next summer.
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