Record level of support for investments in Sweden in 2023

Boden The European Investment Bank provided a record level of support for investments in Sweden in 2023, with a large share going to industrial investments in northern Sweden: Northvolt's gigafactory and H2 Green Steel's new fossil-free steel plant.

In total, the EIB Group granted almost EUR 3 billion in financing to 32 Swedish projects in 2023. Three quarters of the financing (76.7%) was directed towards climate action and environmentally sustainable projects.

Northvolt's battery factory in Skellefteå was granted EUR 943 million, an important part of a total EUR 5 billion financing package that was finalized in mid-January. One of the largest loan packages raised in Europe so far.

H2 Green Steel is granted EUR 314 million from EIB for the construction of the new steel plant in Boden, where fossil-free steel will be produced.

Lennart Håkansson

editor@northswedenbusiness.com