All agreed loans

Sweden. Vattenfall AB

Date of agreement: 17 Jun 2010
Country: Sweden
Customer: Vattenfall AB
Amount in SEK: SEK 500 million
Amount in EUR: EUR 52.2 million
Maturity: 10 years
NACE sector / loan type: Electricity, gas, steam and hot water supply
Business area: Energy and water

This loan contributes to climate change mitigation: 75%

Project

The loan has been provided to finance the upgrade of Vattenfall's hydropower plants in the period 2006-2013. A major part of the task involves reducing the environmental impact of Vattenfall's operations and utilising water resources more efficiently. The investments are mainly focused on the replacement of turbines, generators and transformers. The annual capacity for electricity generation will be increased by 186 GWh. An environmental benefit of the project is that the new turbines, which do not require hydraulic fluids for lubrication, will replace older types that hold hundreds of litres of environmentally hazardous hydraulic oils with the potential for leakage. Vattenfall is also investing in new cables and other infrastructure with neutral or minimal environmental benefits.

Vattenfall operates more than 100 power plants in the Nordic countries, and generates about 20% of the electricity consumed in the region.

Sustainability summary

Vattenfall's investment programme focused on replacement of turbines, generators and transformers will improve the efficient use of the existing power stations. The programme will increase capacity in electricity generation by 186 GWh per year and also eliminate the use of hazardous hydraulic fluids for lubrication.