25 May 2023
InvestEU Investment Committee approves NIB’s clean energy transition Framework operation
The InvestEU Investment Committee has approved a framework operation in the area of clean energy transition, enabling NIB to provide financing up to an amount of EUR 300 million to projects promoting a more sustainable energy system in the Nordic and Baltic region.
The Framework operation is set to provide debt financing to projects supporting the deployment of renewable energy generation capacity. This entails the development of the green energy infrastructure, to energy efficiency renovation of existing buildings as well as energy efficiency investments carried out by the industry and service sectors, production and use of low-carbon gases (e.g. green hydrogen or biogas) for the decarbonisation of industrial processes, mobility or as integral part of the energy system. The support can also be provided to investments related to the deployment of low-emission technologies such as carbon capture, transport, storage and/or use (CCUS) technologies.
The Framework operation is expected to mobilise private and public investments of around EUR 600 million and aims to support the EU Commission’s proposed 2030 target of reaching 45% of energy from renewable sources in gross final energy consumption. NIB’s Framework operation will cover projects in Denmark, Estonia, Finland, Latvia, Lithuania, Poland, and Sweden.
This operation is part of the December 2022 agreement between the European Commission and NIB. The agreement is set to unlock up to EUR 480 million of NIB financing for sustainable infrastructure, research, innovation, and digitalisation across the Nordic and Baltic countries, as well as Poland, potentially mobilising public and private investments totaling around EUR 2 billion. For more information, please visit our InvestEU page.
For further information, please contact
Dmitri Kouznetsov, Director, Head of Public Sector & Utilities, +358505765080, Dmitri.Kouznetsov@nib.int
Lovisa Sommerholt, Associate Banker, +358 10 618 0508, Lovisa.firstname.lastname@example.org