Sweden. Nobina AB
|Date of agreement:||30 Jun 2023|
|Amount in EUR:||EUR 18.4 million|
|NACE sector / loan type:||Land transport|
Financing from NIB Environmental Bond proceeds
NEB-eligible share: 100%
NEB category: Clean transport solutions
Amount disbursed: EUR 18.4 million
Note: For loans in other currencies than EUR, the equivalent in EUR is based on the exchange rate effective for the disbursement. Read more about the NIB Environmental Bonds
NIB has joined the financing for Nobina’s operations in the Greater Helsinki region, Finland. NIB will fund EUR 18.4 million of the total project representing 44% of the total arrangement.
The 5-year loan will co-finance the deployment of new electric buses for Nobina’s operations in Finland as part of their recent tender win to operate city buses in the Greater Helsinki region. This win was based on four city bus operation contracts awarded by the Helsinki Regional Transport Authority, a municipal federation responsible for the planning and organization of public transport in the Helsinki region.
Nobina AB is the largest privately owned bus operator in the Nordics, with a fleet of approximately 5,000 buses operating in the four largest Nordic markets in 2021/22, and approximately 13,000 employees. Every day, approximately 1 million passengers travel on Nobina’s buses.
Fulfilment of NIB's mandate
The investment in these 100 electric buses in to Nobina’s fleet is expected to result in decreased operational costs due to savings on fuel expenses. Nobina’s primary objective is to provide passengers with reliable and punctual bus connections, and to ensure this, the company has taken on the responsibility of servicing and maintaining the electric buses.
The project includes the purchase of 100 electric buses to replace diesel buses under four city bus operation contracts in the Helsinki region. The estimated emission reductions from switching to electric buses are approximately 4,850 tCO2/year and 25 tNOx/year.
The project is eligible for financing from the proceeds of NIB Environmental Bonds under Clean Transport Solutions under the subcategory vehicles and vessels. The electric buses purchased by Nobina fulfill the substantial contribution criteria under the EU Taxonomy.
No significant sustainability risks have been identified in relation with the project.