NIB finances Northvolt battery production and recycling in Sweden
The Nordic Investment Bank (NIB) has granted a 11-year USD 97.3 million (EUR 88.30 million) loan to Northvolt Ett AB, as part of a consortium, for the development, construction, operation and maintenance of an integrated lithium-ion battery manufacturing and recycling facility in Skellefteå, Sweden. The InvestEU programme will support USD 31.6 million of the loan under the Sustainable Infrastructure policy window.The loan will co-finance two new battery cell manufacturing blocks that will expand the capacity of the Northvolt ETT factory, as well as a battery recycling plant (Revolt Ett)