- EIB lends Swedish forest-industry group Holmen €100 million to expand onshore wind generation in northern Sweden
- Project to provide green power for energy-intensive industries
- Operation advances Swedish and European climate goals
The European Investment Bank (EIB) is lending 1.1 billion Swedish kronor (around €100 million) to forest-industry group Holmen to expand its renewable energy generation. The financing will support the ongoing expansion of onshore wind installations in northern Sweden, strengthening the country’s clean-energy supply and reducing greenhouse gas emissions.
Headquartered in Stockholm, Holmen is one of Sweden’s largest forest owners and a key player in renewable materials and energy. The company operates in forestry, wood products, paper, paperboard and energy. Its renewable and recyclable products help replace fossil-based materials such as plastic, steel and cement.
Holmen’s investment will add renewable generation capacity in Sweden’s northernmost bidding zones (regional electricity price areas), where energy demand is expected to increase from fast-growing, electricity-intensive industries. The expansion of wind power will increase the regional energy production and contribute to Sweden’s goal of achieving net-zero greenhouse gas emissions by 2045.
“Sweden has long been a leader in renewable energy and sustainability,” said EIB Vice-President Karl Nehammer. “By financing Holmen’s expansion of clean power generation, we are strengthening Europe’s energy resilience while supporting one of the country’s most sustainable industrial players. This investment shows how the green transition and industrial competitiveness can go hand in hand.”
The operation advances the EIB’s sustainable energy, natural resources and climate action goals It also supports the European Commission’s RePowerEU initiative to accelerate the switch to clean power and to strengthen energy independence in Europe.
Source: EIB
