Finland. Suur-Savon Sähkö Oy

Date of agreement:14 Dec 2023
Customer:Suur-Savon Sähkö Oy
Amount in EUR:EUR 45 million
Maturity:10 years


The Nordic Investment Bank (NIB) and Suur-Savon Sähkö Oy, a municipal energy utility, have signed a 10-year EUR 45 million loan to drive investment projects spanning 2023–2024.

Suur-Savon Sähkö Oy’s investment programme focuses on enhancing the region’s energy infrastructure. The comprehensive initiative includes the implementation of underground cabling, new overhead lines and the construction of four substations in rural areas. This strategic investment is crucial for increasing the reliability and capacity of the electricity distribution network and facilitating the integration of renewable energy sources.

The investments will also lay the groundwork for the installation of new EV car charging stations, the connection of solar power parks and the expansion of the fibre optic network.

Fulfilment of NIB's mandate


Suur-Savon Sähkö Oy’s investments aim to enhance the security of the electricity distribution network, addressing its relatively weaker status compared to other networks. The network faces challenges with fewer connections per kilometer. With a low cabling rate of 40%, the company plans to invest in underground cabling and other weather-proofing measures to gradually improve reliability.

Ex-ante Impact Indicators – Productivity:

  • Capex: EUR 63 million
  • Network Length: 28,280 km
  • Households Affected: 91,000


The investment will increase the electricity transmission from 400 GWh to 450 GWh. The purpose of the investment is to improve the region’s electricity supply security and quality.

Sustainability summary

The investment programme is not assessed to have any significant negative environmental or social impacts.

Press release

NIB supports Suur-Savon Sähkö Oy’s energy infrastructure investments for regional development in Finland

Press release

NIB tukee Suur-Savon Sähkö Oy:n investointeja energiainfrastruktuuriin alueen kehittämiseksi