22 May 2013

NIB loan to large wind farm project in Sweden

NIB has provided a EUR 61 million loan to DNB Bank ASA. The 15-year-maturity loan will be onlent to Jädraås Vindkraft AB and Hällåsen Kraft AB for the construction of a wind farm west of the Swedish city of Gävle.

The Jädraås wind farm comprises 66 wind turbines, and depending on wind and technical conditions, the annual energy production of the wind farm can reach 503 GWh. Total wind power production in Sweden was approximately 7 TWh in 2012.

“Projects that support the increase of sustainable energy production have strong mandate compliance for NIB. Electricity generation from renewable sources, such as wind, crowds out the supply of fossil fuel based energy, and thus indirectly reduces emissions of the greenhouse gas CO2,” says Henrik Normann, NIB President and CEO.

DNB Bank ASA is part of the DNB Group, which is Norway’s largest financial services group. The banking group is represented in 19 countries worldwide.

The Nordic Investment Bank (NIB) is the common international financial institution of the eight Nordic and Baltic countries. NIB provides long-term financing for projects that strengthen competitiveness and enhance the environment. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor's and Moody's.

For further information, please contact

Eva Sandström, Senior Manager, at +358 10 618 0236,

Pamela Schönberg, Communications Officer, at +358 10 618 0294,