Sweden: EIB loans SEK 3 Bln to Hemsö for energy efficient social infrastructure

  • The SEK 3bn financing will support the construction of and refurbishment to NZEB standards of energy efficient social infrastructure.
  • Construction plans include healthcare and research buildings, elderly care homes and educational facilities.

The European Investment Bank (EIB) has signed a SEK 3bn (EUR 292m) loan agreement with Hemsö Fastighets AB. The Swedish property owner will use the long-term (up to 25 years) financing facility to build healthcare and research infrastructure, elderly care homes and educational facilities, all to nearly-zero-energy-building (NZEB) standards. The premises will be located in the main Swedish cities.

Alexander Stubb, Vice-President of the EIB, commented: “In the Nordics there’s no way around it; conserving energy and heat is a major issue, so we are very pleased to support Hemsö with this project. Public buildings are responsible for a large part of our CO2 output, and thus making them more energy efficient is an important step in mitigating their carbon footprint.”

The facility will be unsecured and will provide Hemsö with a sustainable, flexible and affordable source of external funding. As most of the services delivered in Hemsö’s premises are taxpayer-funded, the financial added value offered by the EIB will ultimately benefit Swedish citizens.

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“We are thrilled about initiating this long-term cooperation with the European Investment Bank. The EIB’s focus on green and socially relevant investments fits well with Hemsö’s business model for developing sustainable social infrastructure. This new facility diversifies the company’s financing and enables us to continue focusing on long-term funding for the company’s planned projects,” said Jonas Rosengren, Hemsö’s Group Treasurer.

The demand for social infrastructure is expected to rise in Sweden, not only for demographic reasons, but also because of ongoing urbanisation: Swedish cities are among the fastest growing in the EU. The project supports national and European targets for energy efficiency and contributes to CO2 emissions reduction, thus supporting climate change objectives as well as diversification of energy supply objectives in the EU.

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