12 Dec 2019
EUR 17.5 million
Infrastructure, transportation and telecom
|Date of agreement:||6 Jul 2009|
|Amount in EUR:||EUR 30 million|
|NACE sector / loan type:||Electricity, gas, steam and hot water supply|
|Business area:||Energy and water|
The 10-year-maturity loan totalling EUR 30 million has been provided for upgrading Finland's electricity transmission grid in order to accommodate the growing demand created by the wind power production in the country. The aim is to expand the capacity so that the grid can add 2,000 MW without the risk of a technical breakdown. The project includes the reconstruction of four substations and the replacement of lightning conductors on 2,500 kilometres of power lines.
Fingrid was established in 1996 as the sole national electricity transmission system operator in Finland. The company owns the main Finnish grid and all the significant cross-border connections. It is responsible for maintaining and developing the infrastructure relating to the transmission of electricity in the country. Fingrid's customers comprise electricity producers, electricity market parties, major industrial enterprises, and regional and distribution network companies. Currently Fingrid has approximately 14,000 kilometres of transmission lines and 106 substations.
Fingrid's investment in upgrading substations and lightning conductors, as part of the company's 10-year investment plan, is being carried out in accordance with NIB's environmental policy and guidelines. The identified subprojects are not estimated to have any significant environmental effects.