All agreed loans

Finland. Fortum Oyj

Date of loan: 11 Apr 2007
Country: Finland
Customer: Fortum Oyj
Amount in SEK: SEK 750 million
Amount in EUR: EUR 81 million
NACE sector / loan type: Electricity, gas, steam and hot water supply
Business area: Energy and environment

Project

The loan totalling SEK 750 million is aimed at financing the company's investment in a system for the automated measurement and control of the electricity consumption of its clients in the household and small business sectors in Sweden. The project is part of Fortum's investment programme aimed at further improving services to customers. Based on two-way communication, the measurement system applied includes a variety of features that improve the client's ability to control and optimise the use of electricity. Fortum is a leading energy company in the Nordic countries and the Baltic Sea region. The company generates and distributes electricity and heat, operates and maintains power plants as well as provides energy-related services.

Sustainability summary

The project is expected to have a positive environmental effect. The reduced consumption of gasoline, as manual meter readings will no longer be necessary, is expected to result in a slight decrease of greenhouse gases. The consumers' better awareness of their own consumption will help decrease energy consumption. A 25% share of the project qualifies as an environmental investment.