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    Reference: 20170777
    Release date: 15 May 2018

    Promoter – Financial Intermediary




    The project concerns deployment of a Combined Heat and Power (CHP) biomass-fired plant of capacity 15 MWe (electric) and 80 MWth (heat and steam) in Finland. The aim is to replace an existing solid fuel (peat and biomass) plant in order to meet the requirements of the Industrial Emissions Directive. The old fuel oil based unit is not up to modern emission standards of the Industrial Emissions Directive 2010/75/EU and needs to be replaced.


    The project is part of the Transitional National plan by which the existing plant, with a fuel switch to light fuel oil, can continue operation to June 2020. The entire electricity produced by the plant will be cogenerated at high efficiency as defined by the EU directives.


    • Energy - Electricity, gas, steam and air conditioning supply

    Proposed EIB finance (Approximate amount)

    EUR 30 million

    Total cost (Approximate amount)

    EUR 64 million

    Environmental aspects

    With a thermal capacity below 300 MWth, the Project does not fall under Annex 1 of the Environmental Impact Assessment (EIA) Directive 2014/52/EU which amends Directive 92/2011/EU, thereby, adhering to Annex 2 of the said Directive and the Finnish EIA Law, leaving it to the competent authority to decide if an EIA is required. The project has been screened out by the competent authority and an environmental permit has been granted based on environmental studies, including pollution distribution models. With a thermal capacity of over 50 MW the project is however subject to the provisions of the Industrial Emissions Directive 2010/75/EU. These have been reviewed by the competent authority in the Environmental permit that was awarded in October 2017.


    The promoter is a public undertaking in the utility sector that follows public procurement procedures as required by Directive 2014/25/EU. Procurement for the Project has started with publication in the Official Journal. The procurement procedures will be further assessed during appraisal.


    Signed - 20/12/2018


    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
    They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    Finland Energy