All agreed loans

Finland. SEB Leasing Oy

Date of loan: 13 Jun 2011
Country: Finland
Customer: SEB Leasing Oy
Amount in EUR: EUR 23 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: 100%

Project

The 10-year-maturity loan totalling EUR 23 million has been provided for financing the acquisition of construction equipment to be leased to Porvoon Energia Oy for the construction of a combined heat and power plant (CHP) in southeastern Finland. The plant will mainly be powered by using wood chips and forest residual.  

SEB Leasing Oy is a wholly owned subsidiary of Skandinaviska Enskilda Banken AB (SEB).

Fulfilment of NIB's mandate

By providing financing for the construction of the new bio-fuelled CHP plant NIB supports Porvoon Energia Oy's target to increase its electricity and district heat production capacity. The plant will partly replace current district heat production using natural gas, which will lead to a direct reduction of CO2 emissions. Indirect reduction of CO2 emissions is achieved by the fact that Porvoon Energia Oy needs to purchase approximately 18% less electricity from the spot market.

Sustainability summary

The new wood fired power plant of Porvoon Energia Oy will generate annually 250 GWh district heat and 78 GWh electricity.

The main environmental impacts occur during the project's operational phase, as the air emissions and the level of noise will increase. The environmental permit requires techniques defined as BAT to be used.

Porvoon Energia Oy has an Environmental Management System certified in accordance with ISO 14001.

Press release

NIB-lån till nytt biokraftverk i sydöstra Finland

 

Press release

NIB lainaa uudelle kaakkoissuomalaiselle biovoimalaitokselle