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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

Nordic Environment Finance Corporation (NEFCO)

Green Investments

in the Baltic Sea area

Helsinki, 30 August 2011

Magnus Rystedt

nefco in brief
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


nefco in brief 2
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.
results of our work in 2010
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


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.

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 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
  • 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
  • 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



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



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





Thankyou for yourtime!

Magnus Rystedt │ │ +358 618 003