Stegra secures €1.4bn to complete Boden green steel plant
Key highlights
- €1.4 billion financing secured, led by a Wallenberg Investments consortium, for Stegra's green steel plant
- Principal agreements expected by end‑April with financial close scheduled for June 2026
- Construction is over 60% complete and financing covers expanded scope, higher costs and a contingency buffer
- Plant will use green hydrogen and renewable electricity to cut CO2 emissions by up to 95% versus conventional steelmaking
Financing package
InnoEnergy portfolio company Stegra has agreed in principle on €1.4 billion in new financing, led by a consortium under Wallenberg Investments; principal agreements are expected by the end of April with financial close scheduled for June 2026. The funding covers expanded project scope, higher costs and a prudential buffer to complete the project.
Project status
The Boden plant in northern Sweden is under construction and more than 60% complete; the financing is intended to enable completion of construction and commissioning.
Technology and emissions
The facility will produce steel using green hydrogen and renewable electricity, targeting up to a 95% reduction in CO2 emissions compared with conventional steelmaking methods.
Source: InnoEnergy