NIB provides loan for 108 MWp of solar projects in Finland

The Nordic Investment Bank (NIB) has signed a EUR-25-million (USD 26.9m) loan to finance two solar projects with a combined capacity of about 108 MWp developed by Skarta Energy Oy in Finland.

The projects are located in Utajarvi in Northern Ostrobothnia and in Palkane in the Pirkanmaa region. They will generate about 99 GWh of clean electricity annually once switched on.

The103-MWp Utajarvi site is in the construction phase. When operational, it will produce 94 GWh electricity, enough to power around 16,000 homes.

The Palkane solar farm will have a capacity of up to 5 MWp and will be capable of generating 4.9 GWh per year.

The four-year financing package is supported by the InvestEU programme under NIB’s Framework Operation on Clean Energy Transition.

Owned by private assent management company CapMan, Skarta Energy seeks to build a portfolio of 800 MWp of solar capacity by the end of 2028.

(EUR 1 = USD 1.077)

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