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Nordic Environment Finance Corporation (NEFCO)

Nordic Environment Finance Corporation (NEFCO) . Green Investments in the Baltic Sea area Helsinki, 30 August 2011 Magnus Rystedt. NEFCO in brief. Geographic mandate. I nternational financial institution established by the Nordic countries

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Nordic Environment Finance Corporation (NEFCO)

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  1. Nordic Environment Finance Corporation (NEFCO) Green Investments in the Baltic Sea area Helsinki, 30 August 2011 Magnus Rystedt

  2. NEFCO in brief Geographic mandate • Internationalfinancial institution established by the Nordic countries • Loans and equityinvestmentsfor environmentalprojects in Eastern Europe • Funds to a total value of EUR 450 million • Headquartered in Helsinkiwith 26 employees • Locallycontractedconsultants in Russia and Ukraine Helsinki

  3. NEFCO in brief (2) • Morethan 400 projectsapproved • Over 50 wastewaterrelatedprojects in the Baltic Sea area. • Managingseveraldiffernetfunds. In addition to investment capability this alsoincludes TA funds and CarbonFunds; Testing GroundFacility and NEFCO CarbonFund. Specificrelevance for the Baltic Sea Region: • Managing the BSAP Fundtogether with NIB. The TA fundamounts to €11.6 million (Sweden and Finland are contributors) and aims to support implementation of projects relevant for the BSAP. • NEFCO is involved with otherIFI's (EIB, EBRD and NIB) in the Northern Dimension EnvironmentalPartnership (NDEP) targetingenvironmentalinvestments in NW Russia and Belarus. The NDEP support fund for env. projectsamounts to €127 million and is managed by EBRD.

  4. Results of our work in 2010: CO2: 3 milliontonnes P: 1,251 tonnes SOx: 8,075 tonnes = 6.2 million people flying from Helsinki to New York = untreated wastewater from 1.7 million people = 1/10 of the total SO2 -emissions in Finland in 2007

  5. Case: Southwest Wastewater Treatment Plant (SWTP) in St. Petersburg Before After SWTP treats wastewater from 700 000 people in St. Petersburg. Implemented as a Public Private Partnership (PPP). Total investment 150 million EUR (PPP Scope). Including associated investment 190 million EUR. Magnus Rystedt, August 2011

  6. Case: Promoting renewable energy in the Baltic countries • Loans and equity investments for wind farms in Estonia, Latvia and Lithuania • Norwegian interest through Vardar • NEFCO has been a shareholder since 2005 • Cooperation partner: Freenergy a private Estonian investment group, EBRD shareholder from 2009 Climate

  7. Case: Vardar Eurus investment portfolio 264 MW • Estonia: 10 windfarms, total capacity 135.4 MW of which 2 parks under construction • 2 biogas projects under preparation • total annual energy production 24 000 MWh • Lithuania: 4 windfarms total capacity 78.9 MW • of which 3 parks under construction or preparation • Latvia: 1 windfarm of 50 MW capacity under preparation Climate

  8. Case: Biogas extraction from old landfill in Kaunas region • Owner New Heat (Finnish owners), Lithuania since 2004 • NEFCO granted subordinated loan • Sale of ERUs precondition for viability • Emission Reduction Purchase Agreement with TGF – approx.167 000 tonnes of CO2 equivalents • Second stage of biogas extraction under preparation Climate

  9. Case: Baltic Pork • Pig breeding in Latvia • Owned by IPI, a Norwegian investment company • Investing in biogas production – while doubling production • NEFCO joining as shareholder and lender 2010 • Main environmental benefit • Cost efficient reduction of run off of nutrients from agriculture to the Baltic Sea • A priority area for NEFCO's investments in the Baltic countries Climate

  10. Case: Rindipol, Poland & Belarus • Chojnice plant produces 87,000 and Hajnowka plant produces 200,000 GJ/Year • Both plants will be extended to include electricity production. • A separate bio-fuel trading company Biopal, has been established • It is envisaged that Biopal will import biomass from the forestry service sister company Rindibel in Belarus • A total of some 8 MEUR has been invested in Rindipol and Biopal Climate

  11. Hajnowka Chojnice

  12. Thankyou for yourtime! Magnus Rystedt │ magnus.rystedt@nefco.fi │ +358 618 003 www.nefco.org

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