NIB and Hemsö Secure SEK 700 Million Loan for Sustainable Infrastructure Projects in Sweden and Finland

NIB and Hemsö Secure SEK 700 Million Loan for Sustainable Infrastructure Projects in Sweden and Finland

(IN BRIEF) The Nordic Investment Bank (NIB) has signed a SEK 700 million loan agreement with Hemsö Fastighets AB to finance several projects in Sweden and Finland, including the refurbishment of educational buildings in Helsinki and Turku and the construction of a new police headquarters in Borlänge, Sweden. The loan highlights the importance of sustainable infrastructure in improving educational capacity and regional development. The projects focus on energy-efficient renovations, with plans to upgrade energy ratings and increase the availability of space for students. The new police headquarters in Borlänge will be built to Miljöbyggnad Gold standards. This collaboration follows a previous loan from NIB to fund the construction of the “Patienten” life science center.

(PRESS RELEASE) HELSINKI, 4-Feb-2025 — /EuropaWire/ — The Nordic Investment Bank (NIB) has formalized a SEK 700 million (approximately EUR 61 million) loan agreement with Hemsö Fastighets AB to fund a range of projects across Sweden and Finland. These initiatives include the refurbishment of three educational buildings in Helsinki and Turku, as well as the construction of a new police headquarters in Borlänge, Sweden.

André Küüsvek, President and CEO of NIB, expressed the significance of the loan, stating, “This cross-border loan project showcases the strength of Nordic cooperation. The projects financed by this loan play a vital role in enhancing access to high-quality education, which is crucial for the long-term competitiveness of the region.”

Nils Styf, CEO of Hemsö, emphasized the environmental and social benefits of the projects, saying, “We are pleased that NIB recognizes the value of these sustainable initiatives. Each project contributes to the development of local communities by improving educational capacity and advancing regional growth. NIB’s support is crucial for Hemsö’s ongoing investment in the public sector’s infrastructure needs in both Sweden and Finland.”

Hemsö’s refurbishment projects in Finland include upgrading the building at Lemminkäisenkatu in Turku, which currently houses the Turku University of Applied Sciences. Following renovations, the building will accommodate both the university and Turku International School, with completion expected in the second half of 2025.

In Helsinki, Hemsö is revamping the building on Siltavuorenpenger, a structure dating back to 1961. Previously home to the University of Helsinki’s Faculty of Education, it will soon house the Visual Arts School of Helsinki and the Kallio Upper Secondary School of Performing Arts. These extensive renovations will elevate the building’s energy performance from class C to A, with the new occupants set to move in by August 2025.

Additionally, by mid-2026, Hemsö will have completed the renovation of the Vallila elementary school in Helsinki, a historic building that first opened in 1902. The improvements will strengthen the building’s structure, update its technology, and renovate the grounds, increasing the school’s energy rating from G to A. This school serves approximately 350 students.

In Sweden, Hemsö will build a 21,600 m² police headquarters in Borlänge to accommodate the growing Swedish Police Authority. The new facility will replace the current 1970s-era premises and will be leased to the police force. The project will meet Miljöbyggnad Gold standards for sustainability and is expected to deliver significant social benefits by enhancing security and modernizing police operations in the region.

Hemsö Fastighets AB is a Swedish real estate company specializing in the ownership, management, and development of social infrastructure across Sweden, Finland, and Germany. This new loan follows a previous collaboration with NIB in 2018 to finance the construction of the “Patienten” life science center in Solna. Hemsö’s portfolio focuses on four key sectors: education, healthcare, justice, and nursing homes, with the majority of the company owned by the Third Swedish National Pension Fund (AP3).

NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.

Media Contacts:

Daniel Kangasmaa
Senior Banker
+358 10 618 0304
daniel.kangasmaa@nib.int

Anita Algus
Communications
+358 10 618 0524
anita.algus@nib.int

SOURCE: Nordic Investment Bank