Keravan Energia

Keravan Electricity Distribution and District Heating Project - Financing

Borrower (s)
Keravan Energia
Industry
Power/Electricity transmission
Area of finance
Project & Infrastructure Finance
Region
Europe
Countries
Finland

Deal Overview

The NIB has entered into a ten-year loan agreement with Keravan Energia to provide co-financing for its vital infrastructure investments in the electricity distribution and district heating network. This €10 million ($10.6 million) loan will play a crucial role in funding Keravan Energia's...

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The NIB has entered into a ten-year loan agreement with Keravan Energia to provide co-financing for its vital infrastructure investments in the electricity distribution and district heating network. This €10 million ($10.6 million) loan will play a crucial role in funding Keravan Energia's investment program slated for 2023–2024. The investments are set to bolster the reliability of the electricity network, boost its capacity, and ensure the continued competitiveness of the district heating network. One notable aspect of these investments is the introduction of underground cabling, a move aimed at significantly reducing power outages triggered by severe weather conditions. This strategic initiative is expected to enhance supply security and expand the network's coverage in the Kerava and Sipoo regions in southern Finland, offering benefits to both residents and businesses

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Deal Volume
$10.54m
Financial Close
28 September 2023
Sources

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Projects

Keravan Electricity Distribution and District Heating Project

Greenfield
Electricity transmission
Europe
Finland
$10.54m