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NIB is the international financial institution of Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway, and Sweden. The Bank finances projects that improve productivity and benefit the environment of the Nordic-Baltic region. The Bank is headquartered in Helsinki with a regional hub in Riga. NIB has the highest possible credit rating, AAA/Aaa, with S&P Global Ratings and Moody’s.

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NIB finances large-scale wind farm in Latvia

The Nordic Investment Bank (NIB) has signed a 16-year loan with Ltd. WPR2 for the construction and operation of a 112 MW wind farm in Latvia. The EUR 28 million loan supports the country’s transition to clean energy and is eligible under the InvestEU Clean Energy Transition Framework.  The financing will support “Project Simpson”, a greenfield wind energy development located in Smiltene, northeastern Latvia. Once operational, the wind farm is expected to generate approximately 283 GWh (P90) annually and will contribute to significant CO₂ reductions.João Neto, Investment Director at

NIB signs loan agreement with Statkraft in Norway

The Nordic Investment Bank (NIB) has signed a 10-year loan agreement with Statkraft AS, Europe’s largest renewable power generator, to support its investment programme.   The USD 339 million (approximately NOK 3.5 billion) loan will finance Statkraft’s ongoing efforts to strengthen its renewable energy portfolio and maintain its leading role in sustainable power generation.   “We are pleased to support a key player in the renewable energy sector. Investments in sustainable power generation are crucial to ensuring a resilient and efficient energy infrastructure,” says Patrik

NIB supports Stockholm’s plan to become a carbon-neutral city

The Nordic Investment Bank (NIB) and Stockholm Exergi Holding AB (Publ) have signed a 10-year loan to fund Europe’s largest bio energy carbon capture and storage project in Stockholm, Sweden.   Stockholm Exergi has secured a SEK 2 billion (approx. EUR 176 million) loan from NIB to support the construction of Europe’s largest Bio Energy Carbon Capture and Storage (Bio-CCS or BECCS) facility. Construction is set to begin in 2025, with the facility expected to be operational during 2028.   BECCS is a technology that captures biogenic carbon dioxide (CO2) before it reaches the

NIB finances renewable energy supply for green ammonia production in Lithuania

The Nordic Investment Bank (NIB) and UAB LT Energija have signed a EUR 100 million loan for a 264 MW wind farm in Pagėgiai, Lithuania. The European Union supports EUR 43.5 million of the loan under the NIB's InvestEU Framework Operation on Clean Energy Transition.The 21-year maturity loan will finance the construction of 40 wind turbines, as well as the associated civil and electrical infrastructure. The Pagėgiai wind farm will significantly increase energy generation capacity in Lithuania, which currently imports the majority of its power consumption. It will generate an estimated 602

NIB lends to Varanger Kraft´s hydrogen and power grid projects

The Nordic Investment Bank (NIB) has signed a seven-year loan agreement with Norwegian utility company Varanger Kraft to upgrade their hydrogen facility for commercial operations and improve the electricity distribution network in the Varanger region in Norway.A segment of the NOK 50 million (EUR 4.3 million) loan will co-finance Varanger Kraft´s Berlevåg hydrogen production facility. This facility encompasses a 2.5MW electrolyser, hydrogen compressors, and a storage tank, aiming to produce hydrogen for regional use by late 2024. The potential beneficiaries of this hydrogen output span

NIB signs 10-year loan to strengthen Denmark’s network resilience

The Nordic Investment Bank (NIB) agrees a 10-year loan agreement with the Danish TSO Energinet to finance the installation of new substations and the refurbishment or upgrade of existing substations in Denmark between 2023 and 2025.The DKK 1 billion (EUR 134.4 million) loan will co-finance the installation of ten new substations and the refurbishment or upgrade of 45 existing substations in Denmark, in accordance with the government approved Energinet investment and financing plan for 2023-2025. The total amount to be invested in new- and re-furbished substations during 2023-25 is DKK 6.

NIB lends to rebuild Ellevio’s electric substations in Stockholm

The Nordic Investment Bank (NIB) signs a 10-year loan with the Swedish electricity distributor Ellevio AB to rebuild and increase the capacity of two existing switchgear stations in Skanstull and Värtan in the City of Stockholm, Sweden.The SEK 1 billion (EUR 94.10 million) loan is earmarked for financing new station buildings, indoor GIS switchgears for 110kV and 220kV, new transformers and reactors, new cables, and a new control and protection system. Combined, the total expected distribution capacity from the two switchgear stations will increase by around 800 MW, which represents a 40%

NIB finances construction of hydropower plants and networks in Norway

The Nordic Investment Bank (NIB) signs a 7-year loan with the Norwegian utility company Nordkraft AS to construct four small-scale run-of-the river hydropower plants with a total capacity of 26.1 MW, and a regional grid and distribution network in northern Norway.The NOK 500 million (EUR 48.61 million) loan will co-finance the construction of four small-scale (<10 MW) run-of- river hydropower plants in Øvre Russvik, Nedre Russvik, Ritaelva and Sveingård. The plants will have a total annual power generation of 68.7 GWh. All plants fulfil the technical screening criteria for hydropower in the

NIB finances improvements in electricity grid in Finland

The Nordic Investment Bank (NIB) signs a 15-year loan with Finnish grid operator Porvoon Sähköverkko Oy to finance the construction of a new powerline and substation and upgrades of the existing electricity grid in Porvoo, Finland.The EUR 18 million loan will finance the company’s investment programme during 2021-2026. The investments will improve the electricity grid’s reliability and include underground cabling to replace existing overhead lines, the construction of a new substation and the construction of a new powerline. “The investments in the energy sector play a  vital role in

NIB finances EQT-backed Molslinjen and Torghattens’ sustainability transformation in Denmark and Norway

The Nordic Investment Bank (NIB) has signed a 7-year loan agreement with a EQT owned company to finance capital expenditures relating to electric ferries operated by Molslinjen A/S in Denmark and Torghatten AS in Norway.The EUR 84.71 million loan, which is fully eligible to be funded by NIB Environmental Bond proceeds, will be key in realising EQT Infrastructure’s ferry capital expenditure programme during 2021-2026. EQT Infrastructure is combining the two leading ferry companies, Molslinjen and Torghatten, under one common holding vehicle to establish a pan-Nordic floating bridge and

NIB signs 10-year loan to finance Viking Link interconnector

The Nordic Investment Bank (NIB) agrees a 10-year loan agreement with Danish TSO Energinet to increase the co-financing to construct the Viking Link, a 760- kilometre 1.4 GW high voltage direct current electricity interconnector between the substations of Revsing in southern Jutland in Denmark, and Bicker Fen in Lincolnshire, Great Britain.The DKK 1,500 million (EUR 201.67 million) loan will enable the more effective utilisation of renewable energy, access to sustainable electricity generation, and improve the security of electricity supplies. This is the second 10-year loan signed with

NIB lends to Lyse electricity grid upgrade in Norway

The Nordic Investment Bank (NIB) has signed a 15-year loan with Norwegian energy, telecommunications and power grid company Lyse AS to finance an expansion and upgrade of its electricity grid. The project also includes a new office building in Sandnes to receive the BREEAM-NOR Excellent certification.The EUR 99.32 million (NOK 1 billion) loan will co-finance investments in constructing and upgrading 132 kV power lines between Opstad and Håland, Fagrafjell-Vagle-Stokkeland, and between Dalen-Veland-Hjelmeland. The regional grid investments will connect additional renewable generation with

NIB lends to new wind farms in Estonia and Lithuania

The Nordic Investment Bank (NIB) and Estonian renewable energy producer Enefit Green AS have agreed on a EUR 80 million loan for a period of 12 years to co-finance wind power projects in Lithuania and Estonia.Enefit Green is currently constructing the two wind farms Šilale II and Akmene in Lithuania. Combined, the two wind farms will add 118 megawatts of renewable electricity generation capacity to the Baltic region. The wind farms are planned to become operational by the end of 2023. The Akmene wind farm (75 MW) will then become the company’s largest wind farm. Enefit Green is also

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