NIB supports substation expansion in Stockholm’s regional network

• NIB has signed a SEK 1,000 million (EUR 90.6 million) loan with Swedish electricity network company Ellevio AB.
• The loan will co-finance the modernisation and expansion of the Beckomberga substation in Stockholm’s regional network.

The Beckomberga substation, which currently supplies electricity to approximately 120,000 customers, has reached the end of its technical lifespan. By adding 550 MW of capacity, the project will significantly strengthen the grid’s ability to meet growing electricity demand in the Stockholm region.

The project includes the reconstruction and expansion of the existing substation into a new compact gas-insulated substation, as well as the establishment of a new 1,000 MVA grid connection node (2 × 500 MVA) linked to Svenska kraftnät’s nearby substation. Together, these investments will strengthen the connection with Sweden’s national transmission network, increase the available power capacity, and enhance the regional electricity system’s reliability and resilience.

“NIB’s financing strengthens the reliability and security of electricity supply in western Stockholm and contributes to meeting growing electricity demand in the region,” says Eva Nickull, Senior Banker, NIB.

This is the third loan agreement between NIB and Ellevio, following two previous loans signed in 2018 and 2022.

“We are pleased to continue our partnership with NIB through the financing of this strategically important project. Long-term financing is essential for enabling the large-scale investments required to renew and expand the electricity network, supporting both electrification and sustainable growth in the Stockholm region,” said Johan Lindehag, CEO of Ellevio.

Ellevio AB is one of Sweden’s largest electricity distribution system operators. The company owns, operates, and develops regional and local electricity networks.

Nordic Investment Bank (NIB) is an international financial institution owned by Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway, and Sweden. NIB strengthens the competitiveness, sustainability, and resilience 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.    

Contact:

Eva Nickull, Senior Banker, +358 10 618 0314, eva.nickull@nib.int

Tommy Hellström, Associate Communications Officer, +358 10 618 0214, tommy.hellstrom@nib.int