Nordic Investment Bank backs Finnish CHP plant

Nordic Investment Bank has agreed to deliver a long term $90m loan for the refurbishment of a combined heat and power plant in an important industrial zone in Finland.

The plant is located in the Kilpilahti industrial area of Porvoo and the new units are expected to be operational in 2018.

The 18-year maturity loan will finance the replacement of two gas- and oil-fired boilers that no longer comply with emission limits and two steam turbines that are reaching the end of their operational lifespans.

Three new boiler units with a total output of 450 MW and new backpressure steam turbine will be installed. The newly refurbished CHP will mainly provide high-pressure steam and demineralised water to the industries inside the Kilpilahti industrial area. The electricity generated will be delivered to the grid, according to NIB.

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