All agreed loans

Sweden. Gabrielsberget Nord Vind AB

Date of loan: 3 May 2011
Country: Sweden
Customer: Gabrielsberget Nord Vind AB
Amount in EUR: EUR 33 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 16.5-year-maturity loan totalling EUR 33 million has been provided for the construction of a wind farm in the province of Västerbotten in northern Sweden. The wind farm will have a total capacity of 46 MW. The project is an extension of the Gabrielsberget Syd Vind project for which NIB signed a EUR 35 million loan with Gabrielsberget Syd Vind AB on 24 March 2011.

The wind farm will consist of 20 wind turbines. The commercial operation of the farm is planned to start by July 2012.

Gabrielsberget Nord Vind AB is owned 55% by German Enercon Independent Power Producer GmbH and 45% by Swedish Svevind Holding AB, Sweden. Enercon is one of the largest wind energy manufacturers in the world with more than 17,000 wind turbines installed in over 30 countries. Svevind is a privately owned renewable energy company which plans, develops, sells and operates land-based wind power projects of varying sizes.

Fulfilment of NIB's mandate

By increasing the proportion of wind power and hence the diversity of energy sources, the project may increase the security of energy supply in the region. A windmill park is a sustainable way to provide electricity. Indirectly the project contributes to lower emissions of carbon dioxide by crowding out electricity generated from fossil fuel. The project is in compliance with NIB's mandate, and has obtained a good competitiveness and an excellent environmental mandate rating.  

Sustainability summary

Unlike most conventional electricity generation technologies, which have regional and global impacts due to their emissions and fuel imports, the impacts of wind energy systems are small and local. Negative environmental impacts are right of way issues, such as noise, visual impact, shadow flicker, as well as affected birds or other wildlife. A positive environmental benefit is the generation of "green electricity".

The project area is surrounded by forest, which limits the wind farms visibility and diminishes any possible disturbance from the farm. No sensitive areas are directly impacted by the project. The limited negative impacts from the project are reversible. The projected electricity production amounts to approximately 130 GWh annually.

Press release

Nytt NIB-lån till vindparksprojekt i norra Sverige