Sweden. Växjö Energi AB
| Date of agreement: | 01 Aug 2012 |
|---|---|
| Country: | Sweden |
| Customer: | Växjö Energi AB |
| Amount in SEK: | SEK 600 million |
| Amount in EUR: | EUR 71.8 million |
| Maturity: | 20 years |
| NACE sector / loan type: | Electricity, gas, steam and hot water supply |
This loan contributes to climate change mitigation: 100%
Financing from NIB Environmental Bond proceeds
NEB-eligible share: 100%
NEB category: Renewable energy generation
Amount disbursed: EUR 62.8 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
Project
The EUR 67 million loan totalling has been provided to the Swedish energy company Växjö Energi AB for the financing of a new bio-fuelled combined heat and power plant.
The new power plant will generate additional renewable energy. The added power and the reduced use of fossil fuel result indirectly in a significant decrease of greenhouse gas emissions.
Växjö Energi AB is an energy company fully owned by Växjö Municipality. The company produces and distributes district heating, cooling and electricity, and is responsible for the expansion of the district and local heating in the region.
Fulfilment of NIB's mandate
Using renewable sources as fuel is among the most environmentally sustainable ways of heat and energy production. By using wood residues as fuel in the power plant, the energy mix in the energy pool is diversified, which improves the security of electricity supply and therefore contributes to the competitiveness of the region
Sustainability summary
Due to the project, Växjö Energi’s use of fossil fuels will diminish. The increased use of renewable fuels in the power generation results in a significant decrease of indirect greenhouse gas emissions