NIB finances electricity distribution project in Finland
The Nordic Investment Bank and the Finnish Leppäkoski Group Oy have signed a ten-year loan deal to finance the investments in developing the electricity distribution network in the Pirkanmaa and Satakunta region during 2021-2024.
The €10 million investment programme aims to improve the security of power supply and meet the demands of future electricity usage.
The projects include replacing some of the overhead lines with underground cables as well as the replacement of old transformer points. Increased use of underground cables instead of overhead lines makes the network both more energy efficient and weatherproof.
Besides strengthening the existing network, the investment is expected to enable Leppäkoski Group to have more small-scale renewable installations - mainly solar panels - integrated into their network. In 2019, there were 300 small-scale solar power generators in the network and this amount is expected to double in 2020.
