All agreed loans

Finland. Moventas Oy

Date of loan: 18 Nov 2008
Country: Finland
Customer: Moventas Oy
Amount in EUR: EUR 10 million
Maturity: 8 years
NACE sector / loan type: Electricity, gas, steam and hot water supply
Business area: Energy and environment

Project

The 8-year-maturity loan totalling EUR 10 million has been provided as an extension of the EUR 40 million investment loan agreed on 17 March 2008 for a new wind turbine gear manufacturing facility in Finland and an assembly plant in the US. The facility will double Moventas's wind turbine and industrial gear production capacity.

Sustainability summary

Moventas's investment will have some positive environmental impacts as the increased production of gearboxes will result in building more wind turbine parks. No serious environmental risks or liabilities have been identified and the new facilities will both be integrated into Moventas's environmental management system and certified in accordance with ISO 14001.