NIB loan to innovative power plant

The Nordic Investment Bank NIB will provide the Finnish power utility Lahti Energia with a loan amounting to EUR 50 million. The loan, with a maturity of 20 years, is intended for the construction of a new waste-to-energy plant. Lahti Energia, located in southern Finland, is increasing its energy production based on recycled waste. A new gasification facility and a combined heat and power plant will process some 250,000 tonnes of waste annually. The gasification process used is new and innovative and it is the first time this type of process will be in commercial use in Finland. The gasification takes place in two parallel lines consisting of gasifiers, coolers and cleaners. The primary energy source will be pre-sorted waste, including paper, wood and plastics, from both households and industry. "We are now building a completely new kind of environment-friendly technology that raises the efficiency of waste-to-energy to a new level. By gasifying recycled waste we can increase energy production significantly compared to what can be produced by burning mass. We are pleased to have NIB participating in this project," says Janne Savelainen, Managing Director of Lahti Energia. "Waste incineration has traditionally been regarded as ineffective and polluting, but with today's technology it is very efficient. By using waste that otherwise would be deposited in landfills this project will help reduce greenhouse gas emissions", says Johnny Åkerholm, President & CEO of NIB. Furthermore, the overall capacity of the new plant will be higher than using traditional methods. The combined heat and power plant will have a production capacity of 50 MW of electricity and 90 MW of district heat. The power plant is planned to commence operations in spring 2012. The Nordic Investment Bank is the common international financial institution of the eight Nordic and Baltic countries. NIB provides long-term financing to the energy, environmental, transport, logistics and communications, and innovation sectors for projects that strengthen competitiveness and enhance the environment. NIB has the highest possible credit rating, AAA/aaa, with the leading rating agencies Standard & Poor's and Moody's. For further information, please contact Sebastian Påwals, Senior Manager, at +358 10 618 0527, Linda Lindfors, Communications Specialist, at +358 10 618 0299, [HUG#1426837] This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. All reproduction for further distribution is prohibited. Source: NIB NORDIC INVESTMENT BANK via Thomson Reuters ONE