All agreed loans

Sweden. Gabrielsberget Syd Vind AB

Date of loan: 24 Mar 2011
Country: Sweden
Customer: Gabrielsberget Syd Vind AB
Amount in EUR: EUR 35 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 35 million has been provided to construct a wind farm with a total capacity of 46 MW in the province of Västerbotten in northern Sweden.

The wind farm, which is already under construction, will consist of 20 wind turbines. The commercial operation of the farm is planned to start by July 2011.

Gabrielsberget Syd Vind AB is owned 50% by German Enercon Independent Power Producer GmbH and 50% by Swedish Svevind Holding AB, Sweden.

Enercon is the fourth largest wind energy manufacturer in the world with more than 17,000 wind turbines installed in over 30 countries. Svevind is a privately-owned company which plans, develops, sells and operates land-based wind power projects of varying sizes.

Fulfilment of NIB's mandate

Electricity generation from wind replaces fossil fuel based energy production, and thus reduces the emissions of CO2. The increase of wind power is supported by the government of Sweden. The goal is to produce 20 TWh per year of onshore wind energy by year 2020.  

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.