The European Investment Bank (EIB) and the Swedish, non-profit private housing co-operative SKB have signed a €56m loan agreement to build new minimum energy apartments in Stockholm.
The deal represents the first direct financing for energy-efficient residential buildings in Sweden by the EIB.
The development scheme is set to deliver 349 apartments between 2018 and 2021, which have an energy consumption of less than 55 kWh per square metre – 25kWh below Swedish regulatory requirements.
The apartments will be located in the neighbourhoods of Kungsholmen, Bromma, Gustavsberg and Kista.
“We are happy to support SKB in its long-term efforts to create sustainable and climate-friendly housing in the capital region,” said Alexander Stubb, vice-president of the EIB.
“This brings us one step closer towards a greener society which is less dependent on fossil fuels.”
Joakim Wernersson, head of finance at SKB, added: “We consider the fact that the EIB has chosen us as their first housing company partner to be a mark of the quality of our business.
“The loan has been offered on very competitive terms and with a long maturity, and it is a good way for us to further broaden our financing base.
“This type of borrowing also promotes green investments, which is a further boost for us and our brand.”
The EIB has also financed commercial and office 'nearly zero-energy' building projects in Stockholm and Gothenburg.
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