Transcript Slide 1

Nordic Environment
Finance Corporation
(NEFCO)
Green Investments
in the Baltic Sea area
Helsinki, 30 August 2011
Magnus Rystedt
NEFCO in brief
Geographic
mandate
• International financial institution
established by the Nordic countries
• Loans and equity investments
for environmental projects in
Eastern Europe
• Funds to a total value of
EUR 450 million
• Headquartered in Helsinki
with 26 employees
• Locally contracted consultants in
Russia and Ukraine
Helsinki
NEFCO in brief (2)
•
•
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More than 400 projects approved
Over 50 wastewater related projects in the Baltic Sea area.
Managing several differnet funds. In addition to investment
capability this also includes TA funds and Carbon Funds; Testing
Ground Facility and NEFCO Carbon Fund.
Specific relevance for the Baltic Sea Region:
• Managing the BSAP Fund together with NIB. The TA fund amounts
to €11.6 million (Sweden and Finland are contributors) and aims to
support implementation of projects relevant for the BSAP.
• NEFCO is involved with other IFI's (EIB, EBRD and NIB) in the
Northern Dimension Environmental Partnership (NDEP) targeting
environmental investments in NW Russia and Belarus. The NDEP
support fund for env. projects amounts to €127 million and is
managed by EBRD.
Results of our work in 2010:
CO2: 3 million
tonnes
= 6.2 million people
flying from Helsinki to
New York
P: 1,251 tonnes
= untreated
wastewater from 1.7
million people
SOx: 8,075 tonnes
= 1/10 of the total SO2 emissions in Finland in
2007
Case: Southwest Wastewater Treatment
Plant (SWTP) in St. Petersburg
• 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.
Before
After
Magnus Rystedt, August 2011
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 Climate
a private
Estonian investment group,
EBRD shareholder from
2009
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
Climate
• of which 3 parks
under
construction or preparation
• Latvia: 1 windfarm of 50
MW capacity under
preparation
Case: Biogas extraction from old landfill in Kaunas
region
• Owner New Heat (Finnish
owners), Lithuania since
2004
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NEFCO granted
subordinated loan
•
Sale of ERUs precondition
for viability
•
Emission Reduction
Purchase Agreement with
TGF – approx.167
000
Climate
tonnes of CO2 equivalents
• Second stage of biogas
extraction under
preparation
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
Climate
agriculture to the Baltic Sea
•
A priority area for NEFCO's
investments in the Baltic
countries
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
Climate
forestry service
sister company
Rindibel in Belarus
• A total of some 8 MEUR has
been invested in Rindipol and
Biopal
Hajnowka
Chojnice
Thank you for your time!
Magnus Rystedt│ [email protected] │ +358 618 003
www.nefco.org