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Sweden : EIB loans for 260 million SWEDISH bio

June 19, 2014

The European Investment Bank is giving a 260 million loan to Swedish energy company Fortum VÄrme for the design, operation and construction of a combined power and heat biomass plant in Stockholm.

The project, which will have capacities of 130MW for electricity and 280MW for heat, will deliver heat to the existing district heating system in Sweden s power and capital to the public grid.

The EIB is funding the necessary biomass handling facilities and the upgrading of port facilities related to the plant.

Construction is anticipated to be finished by 2016 and the facility will make 35 new permanent posts for maintenance and operation.

Jonathan Taylor, EIB vice-president responsible for lending in Sweden said, The new biomass plant will enable significant energy savings and contribute to climate neutral production of district heating in Stockholm.

Anders Egelrud, Fortum VÄrme chief executive added, We are contributing to a sustainable city by building the future energy system for Stockholm. When the plant is in operation, 90% of our heat and electricity production will be based on renewable and recovered energy.

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Source: TendersInfo (India)

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