Northvolt secures a record $5 billion green loan, the largest in Europe, facilitating the expansion of its gigafactory in Sweden, including a battery recycling plant with a 70% lower carbon footprint. The financing, backed by long-term contracts with partners like BMW and Volkswagen, marks a milestone for Europe’s energy transition, emphasizing circular, sustainable practices. The deal, involving 23 banks, the European Investment Bank, and the Nordic Investment Bank, is the first through Northvolt’s Green Finance Framework, receiving a top ‘dark green’ rating from CICERO.
Northvolt secures record $5 Billion green loan for Gigafactory expansion and circular battery production in Europe
Northvolt secures a groundbreaking $5 billion green loan, Europe’s largest, to expand its gigafactory and advance circular battery production Image Source: Northvolt
Scatec has secured EUR 25 million from IFU, alongside equity and non-recourse debt, for its USD 85 million project financing. (Image Source: Scatec ASA)
EliTe Solar launched its 5 GW PV project in Egypt’s TEDA Suez Zone, set to begin production by September 2025. (Image Source: PRNewswire)
Part of SECI’s 2 GW ISTS initiative, the project will deliver four hours of peak power daily for 25 years. (Image Credit/Source: Pixabay/Pexels)
Ethical Power Italia’s first EPC projects in Italy, two solar farms for Encavis AG, will generate 28 GWh annually. (Image Credit/Source: TomFisk/Pexels)