The European Investment Bank (EIB) is lending 1.1 billion Swedish kronor (around €100 million) to Swedish forest-industry group Holmen to expand onshore wind generation in northern Sweden, the EIB announced. The financing will support the ongoing expansion of wind installations, strengthening the country’s clean energy supply and cutting greenhouse gas emissions.
Headquartered in Stockholm, Holmen is one of Sweden’s largest forest owners and a key player in renewable materials and energy. The company operates in forestry, wood products, paper, paperboard, and energy. Its renewable and recyclable products help replace fossil-based materials like plastic, steel, and cement.
Holmen’s investment will add renewable generation capacity in Sweden’s northernmost bidding zones—regional electricity price areas—where energy demand is expected to grow from fast-expanding, electricity-intensive industries. The wind power expansion will boost regional energy production and help Sweden reach its goal of net-zero greenhouse gas emissions by 2045.
EIB Vice-President Karl Nehammer says Sweden has long been a leader in renewable energy and sustainability. “By financing Holmen’s expansion of clean power generation, we are strengthening Europe’s energy resilience while supporting one of the country’s most sustainable industrial players,” he said. The operation advances the EIB’s sustainable energy, natural resources, and climate action goals and supports the European Commission’s RePowerEU initiative to speed up the switch to clean power and strengthen energy independence in Europe.
