The European Investment Bank (EIB) is lending SEK 1.1 billion (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.
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.
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