NIB loans EUR 17 million to Moelven Industrier for new wood pellet and bioenergy plant at Sokna, Norway

NIB loans EUR 17 million to Moelven Industrier for new wood pellet and bioenergy plant at Sokna, Norway Photo: Moelven Industrier

(PRESS RELEASE) HELSINKI, 22-Jul-2020 — /EuropaWire/ — The international financial institution with focus on the Nordic and Baltic countries The Nordic Investment Bank (NIB) has announced it will provide NOK 200 million (EUR 17.73 million) to Moelven Industrier ASA in the form of a seven-year loan to be used for an integrated wood pellet and bioenergy plant in Norway.

The loan will finance Moelven Industrier’s new wood pellet and bioenergy plant, which is integrated with the existing sawmill at Sokna, near Hønefoss in Norway. It will also contribute to Moelven’s investments in new timber driers and other energy efficiency improvements at the company’s smaller plants.

The thermal energy demand for the pellet production and the sawmill operations will be covered by two new 12 MW solid biofuel boilers, which will use wood by-products as fuel. They will generate up to 88 GWh of thermal energy annually.

The new bioenergy plant at Sokna will ensure energy supply for both sawmill and the pellet factory. This will substantially reduce energy consumption, as the energy that would otherwise go to waste will be used in white pellet production.

Moelven Industrier estimates that the plant will produce 80,000 tonnes of pellets per year. This would double the total annual wood pellet production in Norway.

Moelven Industrier ASA is one of the largest producers of sawn wood and wood based building materials in the Nordics. The company employs about 3,390 employees, mostly in Norway and Sweden. The owners of the company are Glommen Mjøsen Skog SA (78.8%) and Viken Skog SA (20.8%), with the remaining shares held by private individuals.

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:

Nordic Investment Bank:
Mr Nicolas Audibert, Director, Origination, at +358 10 618 0689,
Mr Vytautas Brazaitis, Communications Unit, at +358 10 618 0235,

Moelven Industrier ASA:
Mr Rune F. Andersen, VP Finance & Treasury, at +47 913 43 260,

SOURCE: Nordic Investment Bank


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