ANNOUNCEMENT 30 Jun 2021

In May 2021, the Nordic Investment Bank (NIB) signed a loan agreement with Swedish company 'Vindpark Hultema i Motala' to support the construction of Hultema wind farm in the Östergötland, Sweden.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

NIB. Sweden. Vindpark Hultema i Motala AB. Available at: https://www.nib.int/what_we_offer/agreed_loans/797/vindpark_hultema_i_motala_ab

NIB. Who we are/ Q&A. Available at: https://www.nib.int/who_we_are/q_a

Inception date: 30 Jun 2021 | Removal date: open ended

State loan

On 30 June 2021, the Nordic Investment Bank (NIB) signed a loan agreement to the value of EUR 23 million (Approx. USD 27.3 million) with Swedish company Vindpark Hultema i Motala to finance the construction of Hultema wind farm in the Östergötland region of Sweden. The maturity of the loan is 20 years.

The company receiving the loan, Vindpark Hultema i Motala, is a special purpose vehicle (SPV) established for the purpose of developing and operating the project. In turn, the project is owned by Reichmuth Infrastruktur II KmGK, a fund managed by the Swiss asset manager Reichmuth Infrastructure, focused on European infrastructure investments in the areas of renewable energy and transportation. 

The NIB is an international financing bank and is jointly owned by Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The bank provides financing to private and public projects mainly located in the eight countries at attractive conditions. The eligibility criteria of NIB financing is that: "All projects financed by NIB should improve competitiveness and/or the environment, in accordance with NIB's mandate and eligibility criteria. Furthermore, outside the membership area, projects financed by NIB should be of mutual interest to the country of the borrower and the member countries."

A state act in the GTA database is assessed solely in terms of the extent to which its implementation affects foreign commercial interests. On this metric, the investment support granted here is discriminatory.

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