Investment Details
The European Investment Bank (EIB) is providing a loan of 1.1 billion Swedish kronor (approximately €100 million) to Holmen, a Swedish forest-industry group. This funding is aimed at expanding onshore wind energy generation in northern Sweden.
Project Goals
The project seeks to enhance the clean-energy supply in Sweden, particularly in the northernmost bidding zones where energy demand is rising due to electricity-intensive industries. This expansion is part of Sweden's broader objective to achieve net-zero greenhouse gas emissions by 2045.
Holmen's Role
Holmen, headquartered in Stockholm, is a major player in renewable materials and energy. The company operates across various sectors, including forestry, wood products, paper, paperboard, and energy. Its focus on renewable and recyclable products contributes to replacing fossil-based materials.
Strategic Importance
The operation aligns with the EIB's goals for sustainable energy, natural resources, and climate action. It also supports the European Commission's RePowerEU initiative, which aims to accelerate the transition to clean power and enhance energy independence in Europe.
