#Sweden #Stockholm #Nordic Investment Bank #Ellevio #Beckomberga

Ellevio Strengthens Stockholm's Power Grid with SEK 1 Billion Loan

Ellevio AB, a prominent energy company based in Sweden, has marked a significant step in its infrastructure enhancement journey by securing a SEK 1 billion loan agreement with the Nordic Investment Bank (NIB). This financial milestone is aimed at co-financing the modernization and expansion of the Beckomberga substation, a critical component within Stockholm's regional electricity grid.

The Beckomberga substation serves a vast customer base, approximately 120,000 residents and businesses, and it has reached the end of its technical lifespan. The refurbishment and expansion of this facility will not only reinvigorate its operational capabilities but also enhance its connectedness to Sweden’s national transmission grid, thereby addressing the soaring electricity demand in the Stockholm region.

According to Johan Lindehag, CEO of Ellevio, this strategic financing will facilitate vital investments needed for renewing and enlarging the electrical network. He emphasized the long-term nature of such financial support as essential for backing large-scale projects that foster electrification and sustainable growth. In a statement, Lindehag noted, "We are pleased to continue our partnership with NIB through the financing of this strategically important project. Long-term financing is essential for enabling the large-scale investments required to renew and expand the electricity network."

Eva Nickull, a Senior Banker at NIB, voiced the bank's commitment to strengthening the reliability and security of electricity supply in western Stockholm. She remarked that this financing directly contributes to meeting the growing electricity requirements of the area, underlining the partnership's significance for regional energy stability.

Key Project Investments

The Beckomberga modernization project will involve several key investments:

• - Installation of new and extended gas-insulated switchgear (GIS).
• - Establishment of a new 1,000 MVA transmission grid connection node linked to transmission system operator Svenska kraftnät's nearby substation.
• - Addition of new transformers to bolster power distribution capabilities.

Together, these upgrades are designed to enhance the connection to Sweden’s national transmission grid while increasing power capacity and reliability, ultimately improving grid resilience and security of supply for the region.

About Nordic Investment Bank

The Nordic Investment Bank (NIB) is an international financial institution owned by Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway, and Sweden. It focuses on promoting competitiveness, sustainability, and resilience in the Nordic-Baltic region. Boasting an impressive credit rating of AAA/Aaa from SP Global Ratings and Moody’s, NIB is committed to financing projects that offer long-term benefits to the region's energy landscape.

About Ellevio

Ellevio stands as one of Sweden's foremost energy providers, facilitating the transition to a low-carbon economy. The company distributes electricity to nearly one million customers across Sweden, empowering the electrification of industries and transportation through a modern and reliable grid. With over 800 professionals on its team and numerous strategic partners, Ellevio plays a crucial role in Sweden’s energy transformation efforts.

This collaboration between Ellevio and NIB highlights the importance of leveraging financial solutions to enhance infrastructure resilience and adaptability in the fast-evolving energy demand landscape.

For more information, please visit Ellevio's website.