Kilpilahti Power Plant €400 million project

Overview:

• Kilpilahti Power Plant, a joint venture of Neste, Veolia and Borealis, entered into a project financing arrangement with a lending consortium to build a new 450 MW industrial combined heat and power plant in Kilpilahti.
• The total investment value in the plant is approximately €400 million.
• The consortium banks included the European Investment Bank, the Nordic Investment Bank, and commercial banks including Bank of Tokyo-Mitsubishi UFJ, ING, Nordea, Skandinaviska Enskilda Banken, UniCredit Bank Austria and UniCredit Bank.
• The European Investment Bank provided a €175 million loan facility to KPP.
• Neste, Veolia, and Borealis hold 40%, 40% and 20% stakes respectively in KPP.

Wai Yee Tsang - Journalist