NIB lends to wind farm project in northern Sweden

NIB and Swedish Gabrielsberget Syd Vind AB have signed a loan totalling EUR 35 million for financing the construction of a new wind farm in Västerbotten in northern Sweden.

The 16.5-year-maturity loan will be used for financing the wind farm project which has a total capacity of 46 MW.

The wind farm will be made up of 20 wind turbines and the commercial operation of the farm is planned to be running by July 2011.

“Replacing fossil fuel based energy production with renewable energy sources such as wind helps reduce CO2 emissions. It is NIB’s mission to enhance the environment by lending to projects such as this wind farm,” says Johnny Åkerholm, NIB President and CEO.

Gabrielsberget Syd Vind AB is owned 50% by German Enercon Independent Power Producer GmbH and 50% by Swedish Svevind Holding AB, Sweden. Enercon is the fourth largest wind energy manufacturer in the world with more than 17,000 wind turbines installed in over 30 countries. Svevind is a privately-owned company which plans, develops, sells and operates land-based wind power projects of varying sizes.

The Nordic Investment Bank (NIB) is the common international financial institution of the eight Nordic and Baltic countries. NIB provides long-term financing to the energy, environmental, transport, logistics and communications, and innovation sectors for projects that strengthen competitiveness and enhance the environment. NIB has the highest possible credit rating, AAA/aaa, with the leading rating agencies Standard & Poor’s and Moody’s.

For further information, please contact

Eva Sandström, Senior Manager, Project & Structured Finance, at +358 10 618 0236,

Nina Monsen, Senior Communications Specialist, at +358 10 618 0291,