All agreed loans

Sweden. E.ON Sverige AB

Date of loan: 19 Dec 2008
Country: Sweden
Customer: E.ON Sverige AB
Amount in EUR: EUR 100 million
NACE sector / loan type: Electricity, gas, steam and hot water supply
Business area: Energy and environment

Environmental effect

This loan contributes to climate change mitigation: 100%

Project

The 12.5-year-maturity loan totalling EUR 100 million has been provided E.ON Sverige AB for the financing of the Rødsand II wind farm south of the island of Lolland in Denmark. The project will be developed by E.ON Climate & Renewables, which was created in early 2008 to steer the company's energy projects worldwide. E.ON is part owner of the wind farm Rødsand I, located nearby the new project.

Upon completion in 2010, Rødsand II will have a capacity of around 200 MW distributed among 90 wind turbines and will provide enough clean, renewable energy to power 200,000 homes, or 2% of the total Danish power demand. It will be the largest offshore wind farm in E.ON's portfolio. The total investment will be approximately EUR 400 million.

E.ON Sverige is part of E.ON Group, which is the world's largest private energy company and is established in Europe, the US and Russia. The company produces and supplies energy to the Nordic market in the form of electricity, gas, heat, cooling and waste treatment, as well as providing energy-related services to about a million customers. E.ON Sverige has slightly more than 6,000 employees and had sales of approximately SEK 31 billion in 2007.

Sustainability summary

Electricity generation from wind (renewable energy) will replace some fossil-fuel-based energy production, and thus avoid emissions of carbon dioxide, dust, nitrogen dioxide, and sulphur dioxide.

The wind farm will produce approximately 800 GWh/year and is positioned approximately 2 km offshore in relatively shallow waters with a sandy bottom and in an area with high mean wind speeds. The farm will, however, also result in significant changes to the local landscape, due to its close proximity to the shore.

Press release

NIB-lån till E.ON Sverige för utbyggnad av vindkraft i Danmark