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Wallenstam signs green loan agreement with EIB

Infra News - Published on Tue, 11 Feb 2020

Image Source: EIB Wallenstam
The European Investment Bank has signed a SEK 2.5 billion loan agreement with Wallenstam AB to support the construction of sustainable affordable housing classed as “nearly-zero-energy-buildings” in Sweden. The EIB financing is supported by the European Fund for Strategic Investments, the main pillar of the Investment Plan for Europe.

Väven project, which will consist of 116 rental homes and is one of the projects under the financing agreement, for which a first SEK 500 million was disbursed. Over the rest of the year, the rest of the loan, which has a one year availability period, is planned to be drawn down in connection to several other sustainable housing projects. The EIB is providing an unsecured credit facility of SEK 2.5 billion with a tenor of seven years.

As required by the EIB, all new constructions will meet the “nearly-zero-energy-building” standard. The goal of the financing is to support the construction of rental property to reduce the current housing shortage in Sweden’s largest cities.

Wallenstam is a real estate company that manages, builds and develops properties for sustainable housing and enterprise in Gothenburg, Stockholm and Uppsala. The property portfolio is valued at approximately SEK 50 billion and the customer base consists of approximately 9,000 households and 1,000 companies. The total managed rental area is approximately 1 million square meters. Wallenstam is self-sufficient for renewable energy with its own wind turbines in operation. The company's B-shares have been listed on Nasdaq Stockholm since 1984.

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Posted By : Yogender Pancholi on Tue, 11 Feb 2020
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