16 October 2024
Grosshöchetten decides on a 4 million loan for the ENGH
The municipality’s own Energie Grosshöchetten AG ENGH needs new financial resources from the municipality for its liquidity. At the request of the ENGH, the local council is applying for approval of an amount totaling CHF 4 million and will be holding a community ballot vote on November 24, 2024.
In a first phase, the required funds will be used for the new district heating business area or for the Neuhuspark heating network. In a later phase, the liquid assets will be used to finance investments in the other electricity supply division (electricity), writes the municipality of Gross Höchstetten in the voting message.
A share of CHF 1 million is to be granted as a permanent, subordinated and interest-bearing loan. CHF 3 million is earmarked as a financing framework for needs-based interest-bearing loans and/or for guarantees to secure funding and/or loans.
From 2027, after the expected completion of the heating network’s supply lines, the CHF 3 million will be repayable on a straight-line basis over a period of 20 years, or the financing framework will be reduced accordingly to zero and will be eliminated completely after 20 years.
By approving the proposal, the local council is also authorized to conclude the relevant contracts.
(text:pd,jae/image:pd website grosshochetten)
