NIB has signed a 10-year loan with Fortum Värme Holding to finance the recently inaugurated biomass combined heat and power plant in Värtan, Stockholm of Sweden.
The SEK 600 million (US$70 million) loan comes in addition to a SEK1,400 million (US$165 million) loan signed between NIB and AB Fortum Värme Holding, in June 2014. The complementary loan will help finance the design, build, financing, operation and maintenance (DBFOM) of the Värtan combined heat and power plant.
The biofuel-fired combined heat and power (CHP) plant was inaugurated in May 2016, and is an important asset in developing a sustainable energy supply for Stockholm. The plan is for district heating in the Swedish capital to be entirely produced from renewable or recovered energy by 2030.
Fortum Värme Holding is equally co-owned by Fortum Oyj and the City of Stockholm. It produces and distributes district heating and cooling in the Swedish capital and five surrounding municipalities.