25 Mar 2020
EUR 750 million
|Date of agreement:||18 Oct 2016|
|Customer:||Helsinki City Transport HKL|
|Amount in EUR:||EUR 60 million|
|NACE sector / loan type:||Land transport|
|Business area:||Infrastructure, transportation and telecom|
This loan contributes to climate change mitigation: 100%
Financing from NIB Environmental Bond proceeds
NEB-eligible share: 100%
NEB category: Clean transport solutions
Amount disbursed: EUR 60 million
Note: For loans in other currencies than EUR, the equivalent in EUR is based on the exchange rate effective for the disbursement. Read more about the NIB Environmental Bonds
The loan has been provided to finance the purchase of 40 energy-efficient, low-floor Artic trams for the city. The investment is part of Helsinki’s 2015–2018 infrastructure development programme. The new trams will replace the generation of the current fleet that was built in the 1970s. The new Helsinki trams have been designed in cooperation between the city and the Finnish supplier of the new trams, Transtech Ltd, part of the Škoda Transportation group.
The Artic tram design is designed to cope with Helsinki's demanding conditions, not least the challenging climate. The new fleet will be more energy efficient, offer more comfort and better access for wheelchairs and prams, and have by a passenger capacity 50% greater than the older trams.
Helsinki City Transport HKL is a municipal operator company responsible for running the trams and the metro as well as construction and maintenance of track, stations and depots.
The project will significantly improve the service quality and productivity of public transportation in Helsinki. The new tram design developed at Transtech has been a valuable reference in Škoda Transportation group’s recent bids for tram equipment tenders. This is expected to alleviate challenges of the regional economy of Kajaani in northern Finland, where Transtech has a staff of roughly 500.
The implementation of the project implies low potential for negative environmental impact.