New NIB loan to wind farm project in northern Sweden

NIB and Swedish Gabrielsberget Nord Vind AB have signed a loan totalling EUR 33 million for the financing of a new wind farm project in Västerbotten in northern Sweden.

The 16.5-year loan will be used for financing the wind farm project, which has a total capacity of 46 MW.

The wind farm will be made up of 20 wind turbines and the commercial operation of the farm is planned to begin by July 2012.

“A windmill park is a sustainable way of providing electricity, and by increasing the diversity of energy sources in the region, the project may also increase the security of energy supply,” says Johnny Åkerholm, NIB President and CEO.

Gabrielsberget Nord Vind AB is owned 55% by German Enercon Independent Power Producer GmbH and 45% by Swedish Svevind Holding AB, Sweden. Enercon is one of the largest wind energy manufacturers in the world with more than 17,000 wind turbines installed in over 30 countries. Svevind is a privately owned renewable energy company which plans, develops, sells and operates land-based wind power projects of varying sizes.

The Nordic Investment Bank (NIB) is the common international financial institution of the eight Nordic and Baltic countries. NIB provides long-term financing to the energy, environmental, transport, logistics and communications, and innovation sectors 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, Project & Structured Finance, at +358 10 618 0236,

Nina Monsen, Senior Communications Specialist, at +358 10 618 0291,