English

Gotland’s Rindi Energi invests in biofuels in Belarus

Intro-text for frontpage: 

The bleak autumn sunshine offers welcoming warmth as we approach a felling area in Gotsa in the proximity of Grodno in western Belarus. The local forestry company Grodno PLHO and the Grodno Region Forestry Board are responsible for the administration and clearing of the state-owned forests in the region.

Picture in intro-text: 

Forester Urban Larsson from Rindi Energi is surrounded by logging residues. This is bio fuel!

Forester Urban Larsson from Rindi Energi is surrounded by logging residues. This is bio fuel!

 

Body: 

The pines have recently suffered from a forest fire, which is why the felling is taking place. Burnt trees cannot be used to produce pulp. Instead, the timber is taken to a sawmill or to an energy company and used to produce heat.

Rindi Energi, an energy company from the island of Gotland, is investigating opportunities of using felling waste and woodchip to produce bio energy.  NEFCO and Rindi Energi own two district heating stations in Poland that use bio fuel. Demand for heat is on the increase in Poland, which in turn increases demand for bio fuel, especially at the station in Hajnowka close to the border with Belarus. And this is where the Belarusian woods of Grodno come in.

“The woods are only 90 kilometres from Hajnowka in Poland. If we manage to set up functioning logistics with railroad and road transportation, we could use an additional 130,000 or so cubic metres of woodchip for heat production at Hajnowka,” says Urban Larsson, a forester at Rindi Energi.

Forest management in Grodno meets the requirements of the Forest Stewardship Council (FSC), meaning that felling is carried out sustainably. Deputy Director Viachaslau Miskevich from Grodno Region Forestry Board can hardly conceal his pride when we ask him to hold up the FSC certificate for a close-up photo.

“We take great care in planting new trees in clearings that are created by the felling. The Grodno Region Forestry Board cooperates with several nurseries in the area that produce a total of around 7 million saplings each year. As a rule of thumb, we plant some 7,000 saplings per hectare to ensure reforestation,” says Viachaslau Miskevich.

“20–30 per cent of felling waste is left on the ground to protect biodiversity. The rest can be used to generate bio energy. According to our calculations, some 70,000 cubic metres of woodchip is needed to produce 150,000 GWh of energy,” says Urban Larsson.

NEFCO has estimated that exporting woodchip to Hajnowka for fuel would reduce carbon dioxide emissions by some 35,000 tonnes per year. NEFCO is supporting the project by subscribing to 35 per cent of the shares in the joint venture Rindipol and by granting a loan of EUR 1 million to Rindi Energi. 

 

Additional images in slideshow: 

The forests in the Grodno-region are FSC-certified. Photograph: Patrik Rastenberger

The forests in the Grodno-region are FSC-certified. Photograph: Patrik Rastenberger

 
Logging operations in Gotsa, Belarus. Photograph: Patrik Rastenberger

Logging operations in Gotsa, Belarus. Photograph: Patrik Rastenberger

Around 7 million saplings are produced per year to ensure reforestation in the Grodno region. Photograph: Patrik Rastenberger

Around 7 million saplings are produced per year to ensure reforestation in the Grodno region. Photograph: Patrik Rastenberger

Andrei Bui, Head of Forester Department is briefing Urban Larsson about planned reforestation. Photograph: Patrik Rastenberger

Andrei Bui, Head of Forester Department is briefing Urban Larsson about planned reforestation. Photograph: Patrik Rastenberger

Biofuel. Belarus has set a goal to increase the share of renewable energy to 25 per cent of total production by 2012.

Biofuel. Belarus has set a goal to increase the share of renewable energy to 25 per cent of total production by 2012.


  • [28.10.2008]

    During its chairmanship of the Baltic Marine Environment Commission (HELCOM), known also as the Helsinki Commission, Russia is seeking to broaden the international cooperation on the Baltic Sea and focus greater political attention on its ecological status. The Commission’s Chairman, Igor Maydanov, suggests that the heads of state of the member countries should be involved in decisions that affect the Baltic Sea Action Plan.

  • Signs of severe eutrophication. Toxic algal blooms in Korpo, Southwestern Finland. Photograph: Matti Snellman/NEFCO ©.

    Signs of severe eutrophication. Toxic algal blooms in Korpo, Southwestern Finland. Photograph: Matti Snellman/NEFCO ©.

    [28.10.2008]

    During its chairmanship of the Baltic Marine Environment Commission (HELCOM), known also as the Helsinki Commission, Russia is seeking to broaden the international cooperation on the Baltic Sea and focus greater political attention on its ecological status.

    The Commission’s Chairman, Igor Maydanov, suggests that the heads of state of the member countries should be involved in decisions that affect the Baltic Sea Action Plan.

  • The global wind energy sector grew with 27 per cent in 2007.

    The global wind energy sector grew with 27 per cent in 2007.

    [15.10.2008]

    The Nordic Environment Finance Corporation announced on Wednesday that its Carbon Fund (NeCF) has signed Agreements to procure emission reductions from a wind energy project in Jiangsu province, and a small hydro project in southwest China. The projects will be implemented under the Kyoto Protocol's Clean Development Mechanism (CDM). These are NEFCO's first projects in China.

  • The global wind energy sector grew with 27 per cent in 2007.

    The global wind energy sector grew with 27 per cent in 2007.

    [15.10.2008]

    The Nordic Environment Finance Corporation announced on Wednesday that its Carbon Fund (NeCF) has signed Agreements to procure emission reductions from a wind energy project in Jiangsu province, and a small hydro project in southwest China. The projects will be implemented under the Kyoto Protocol's Clean Development Mechanism (CDM). These are NEFCO's first projects in China.

  • Biomass. NEFCO finances numerous projects where renewable energy is used for heat production. Photograph: Patrik Rastenberger.

    Biomass. NEFCO finances numerous projects where renewable energy is used for heat production. Photograph: Patrik Rastenberger.

     

    [13.10.2008]

    NEFCO has agreed on purchasing carbon credits from two new energy efficiency projects in Russia, namely in Strezhevoy, western Siberia and Priozersk, in the Leningrad region. Both projects aim at refurbishing the district heating networks in the cities concerned. The project in Priozersk is co-financed with the Danish Energy Agency DEA and it will also replace heavy fuel oil with biomass in local heat production.

  • Magnus Rystedt and Vosnuk Mykola surrounded by journalists at Bank Lviv.

    Magnus Rystedt and Vosnuk Mykola surrounded by journalists at Bank Lviv.

    [17.9.2008]

    NEFCO's and Bank Lviv's joint loan facility aimed at promoting energy efficiency is now fully operational. NEFCO's Managing Director Magnus Rystedt and Vosnuk Mykola, Chairman of the Board at Bank Lviv, signed the agreement in Lviv, western Ukraine on Wednesday. 

  • Minister Alexey Kucherenko and Managing Director Magnus Rystedt in Stockholm. Photograph: Christian Åslund

    Minister Alexey Kucherenko and Managing Director Magnus Rystedt in Stockholm. Photograph: Christian Åslund

     

    [5.9.2008]

    The Ukrainian government and NEFCO signed a memorandum of understanding on Friday in Stockholm, Sweden. The MoU will facilitate NEFCO's future investments in Ukraine. The agreement was signed by the Ukrainian minister of housing and communal services, Mr. Alexey Kucherenko and NEFCO's Managing Director Magnus Rystedt.

  • Reducing releases of climate gases is one of NEFCO's key priorities.

    Reducing releases of climate gases is one of NEFCO's key priorities.

     

    [3.9.2008]

    The Nordic Environment Finance Corporation's NEFCO Carbon Fund (NeCF), a Public Private Partnership, announces a new investor into the Fund. Industrialiseringsfonden for Udviklingslandene (IFU) or the Industrialisation Fund for Developing Countries, offers risk capital and advice to businesses investing in developing countries. IFU is an independent, self-governing fund established by the Danish state to assist Danish investments in developing countries and manager for IØ (Investeringsfonden for Østlandene) investing in Central and Eastern Europe. IFU will invest €5 million.

  • Reducing releases of climate gases is one of NEFCO's key priorities.

    Reducing releases of climate gases is one of NEFCO's key priorities.

     

    [3.9.2008]

    The Nordic Environment Finance Corporation's NEFCO Carbon Fund (NeCF), a Public Private Partnership, announces a new investor into the Fund. 

    Industrialiseringsfonden for Udviklingslandene (IFU) or the Industrialisation Fund for Developing Countries, offers risk capital and advice to businesses investing in developing countries. IFU is an independent, self-governing fund established by the Danish state to assist Danish investments in developing countries and manager for IØ (Investeringsfonden for Østlandene) investing in Central and Eastern Europe. IFU will invest €5 million.

  • Interview with Plant Manager Peep Kruuser at Saaremaa, Estonia

    Interview with Plant Manager Peep Kruuser at Saaremaa, Estonia

    [25.8.2008]

    NEFCO releases a video clip on carbon financing and the corporation's investments in renewable energy in Estonia. The video focuses at two projects, namely a wind park in Viru Nigula and a biogas project in Saaremaa in western Estonia. Both projects have been classified as so called Joint Implementation (JI) projects under the Kyoto protocol.

Russia seeks to engage HELCOM prime ministers in saving the Baltic Sea

Intro-text for frontpage: 

During its chairmanship of the Baltic Marine Environment Commission (HELCOM), known also as the Helsinki Commission, Russia is seeking to broaden the international cooperation on the Baltic Sea and focus greater political attention on its ecological status. The Commission’s Chairman, Igor Maydanov, suggests that the heads of state of the member countries should be involved in decisions that affect the Baltic Sea Action Plan.

Body: 

He spoke at a seminar organised by the Nordic Investment Bank (NIB) and the Nordic Environment Finance Corporation (NEFCO) in conjunction with the Nordic Council’s 60th session, held today in Helsinki. “The best way to ensure the financing of HELCOM’s Baltic Sea Action Plan, and to see to it that the national measures are implemented, is to anchor the Action Plan on a higher political level,” he emphasised.

Ambassador Ole Norrback also spoke at the seminar, noting that “HELCOM has established a ceiling for the total discharges of phosphorus and nitrogen. The decision has been made and now we need to comply with it. It’s now about considering those measures that are most cost-effective and result in the greatest benefits. This is where St. Petersburg wastewater treatment, Polish agriculture or more environmentally friendly technology for sea transport come into the picture.”

Johan Ljungberg, Head of the Environmental Unit at NIB, stated that “implementing the Action Plan will call for a variety of actions and extensive economic resources. It is important to find good quality projects and ensure that the projects are run effectively.”

HELCOM’s Baltic Sea Action Plan (BSAP) calls for drastic reductions of phosphorus and nitrogen discharges into the Baltic Sea. Its member states and the EU agreed for the first time last year on nationally defined ceilings for discharges, which will be evaluated in light of new statistics currently being collected. HELCOM’s goal is to achieve a “good ecological status” for the Baltic Sea by 2021, including better visual depth, fewer algal blooms and stronger biodiversity.

The international financial institutions NIB and NEFCO are currently developing a proposal for the financing of the Action Plan. The IFIs previously participated in co-financing the upgrading of the Southwest Wastewater Treatment Plant in St. Petersburg. Thanks to the project, 85% of the city’s wastewater is now treated. A tunnel for collecting wastewater is also being built along the Neva river. NIB has reserved EUR 500 million for the financing of environmental projects that benefit the ecological status of the Baltic Sea and has already started cooperation with Finnish banks to finance the treatment of wastewater from holiday homes. NEFCO’s Baltic Sea projects have thus far reduced the discharge of phosphorus by 1,000 tonnes.

For more information, please contact:
Ole Norrback, Ambassador, Chairman of BSAP Implementation Group, +358 44 317 1316
Johan Ljungberg, Head of Environmental Unit, NIB, +358 400 343 664
Magnus Rystedt, Managing Director, NEFCO, + 358 50 329 6224

NIB is a multilateral financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries.

NEFCO is an international finance institution established by the five Nordic countries. NEFCO finances investments and projects in Russia, Ukraine, Estonia, Latvia, Lithuania and Belarus, in order to generate positive environmental effects of interest to the Nordic region.


  • Forester Urban Larsson from Rindi Energi is surrounded by logging residues. This is bio fuel!

    Forester Urban Larsson from Rindi Energi is surrounded by logging residues. This is bio fuel!

     

    [10.11.2008]

    The bleak autumn sunshine offers welcoming warmth as we approach a felling area in Gotsa in the proximity of Grodno in western Belarus. The local forestry company Grodno PLHO and the Grodno Region Forestry Board are responsible for the administration and clearing of the state-owned forests in the region.

    The forests in the Grodno-region are FSC-certified. Photograph: Patrik Rastenberger

    The forests in the Grodno-region are FSC-certified. Photograph: Patrik Rastenberger

     
    Logging operations in Gotsa, Belarus. Photograph: Patrik Rastenberger

    Logging operations in Gotsa, Belarus. Photograph: Patrik Rastenberger

    Around 7 million saplings are produced per year to ensure reforestation in the Grodno region. Photograph: Patrik Rastenberger

    Around 7 million saplings are produced per year to ensure reforestation in the Grodno region. Photograph: Patrik Rastenberger

    Andrei Bui, Head of Forester Department is briefing Urban Larsson about planned reforestation. Photograph: Patrik Rastenberger

    Andrei Bui, Head of Forester Department is briefing Urban Larsson about planned reforestation. Photograph: Patrik Rastenberger

    Biofuel. Belarus has set a goal to increase the share of renewable energy to 25 per cent of total production by 2012.

    Biofuel. Belarus has set a goal to increase the share of renewable energy to 25 per cent of total production by 2012.

  • Signs of severe eutrophication. Toxic algal blooms in Korpo, Southwestern Finland. Photograph: Matti Snellman/NEFCO ©.

    Signs of severe eutrophication. Toxic algal blooms in Korpo, Southwestern Finland. Photograph: Matti Snellman/NEFCO ©.

    [28.10.2008]

    During its chairmanship of the Baltic Marine Environment Commission (HELCOM), known also as the Helsinki Commission, Russia is seeking to broaden the international cooperation on the Baltic Sea and focus greater political attention on its ecological status.

    The Commission’s Chairman, Igor Maydanov, suggests that the heads of state of the member countries should be involved in decisions that affect the Baltic Sea Action Plan.

  • The global wind energy sector grew with 27 per cent in 2007.

    The global wind energy sector grew with 27 per cent in 2007.

    [15.10.2008]

    The Nordic Environment Finance Corporation announced on Wednesday that its Carbon Fund (NeCF) has signed Agreements to procure emission reductions from a wind energy project in Jiangsu province, and a small hydro project in southwest China. The projects will be implemented under the Kyoto Protocol's Clean Development Mechanism (CDM). These are NEFCO's first projects in China.

  • The global wind energy sector grew with 27 per cent in 2007.

    The global wind energy sector grew with 27 per cent in 2007.

    [15.10.2008]

    The Nordic Environment Finance Corporation announced on Wednesday that its Carbon Fund (NeCF) has signed Agreements to procure emission reductions from a wind energy project in Jiangsu province, and a small hydro project in southwest China. The projects will be implemented under the Kyoto Protocol's Clean Development Mechanism (CDM). These are NEFCO's first projects in China.

  • Biomass. NEFCO finances numerous projects where renewable energy is used for heat production. Photograph: Patrik Rastenberger.

    Biomass. NEFCO finances numerous projects where renewable energy is used for heat production. Photograph: Patrik Rastenberger.

     

    [13.10.2008]

    NEFCO has agreed on purchasing carbon credits from two new energy efficiency projects in Russia, namely in Strezhevoy, western Siberia and Priozersk, in the Leningrad region. Both projects aim at refurbishing the district heating networks in the cities concerned. The project in Priozersk is co-financed with the Danish Energy Agency DEA and it will also replace heavy fuel oil with biomass in local heat production.

  • Magnus Rystedt and Vosnuk Mykola surrounded by journalists at Bank Lviv.

    Magnus Rystedt and Vosnuk Mykola surrounded by journalists at Bank Lviv.

    [17.9.2008]

    NEFCO's and Bank Lviv's joint loan facility aimed at promoting energy efficiency is now fully operational. NEFCO's Managing Director Magnus Rystedt and Vosnuk Mykola, Chairman of the Board at Bank Lviv, signed the agreement in Lviv, western Ukraine on Wednesday. 

  • Minister Alexey Kucherenko and Managing Director Magnus Rystedt in Stockholm. Photograph: Christian Åslund

    Minister Alexey Kucherenko and Managing Director Magnus Rystedt in Stockholm. Photograph: Christian Åslund

     

    [5.9.2008]

    The Ukrainian government and NEFCO signed a memorandum of understanding on Friday in Stockholm, Sweden. The MoU will facilitate NEFCO's future investments in Ukraine. The agreement was signed by the Ukrainian minister of housing and communal services, Mr. Alexey Kucherenko and NEFCO's Managing Director Magnus Rystedt.

  • Reducing releases of climate gases is one of NEFCO's key priorities.

    Reducing releases of climate gases is one of NEFCO's key priorities.

     

    [3.9.2008]

    The Nordic Environment Finance Corporation's NEFCO Carbon Fund (NeCF), a Public Private Partnership, announces a new investor into the Fund. Industrialiseringsfonden for Udviklingslandene (IFU) or the Industrialisation Fund for Developing Countries, offers risk capital and advice to businesses investing in developing countries. IFU is an independent, self-governing fund established by the Danish state to assist Danish investments in developing countries and manager for IØ (Investeringsfonden for Østlandene) investing in Central and Eastern Europe. IFU will invest €5 million.

  • Reducing releases of climate gases is one of NEFCO's key priorities.

    Reducing releases of climate gases is one of NEFCO's key priorities.

     

    [3.9.2008]

    The Nordic Environment Finance Corporation's NEFCO Carbon Fund (NeCF), a Public Private Partnership, announces a new investor into the Fund. 

    Industrialiseringsfonden for Udviklingslandene (IFU) or the Industrialisation Fund for Developing Countries, offers risk capital and advice to businesses investing in developing countries. IFU is an independent, self-governing fund established by the Danish state to assist Danish investments in developing countries and manager for IØ (Investeringsfonden for Østlandene) investing in Central and Eastern Europe. IFU will invest €5 million.

  • Interview with Plant Manager Peep Kruuser at Saaremaa, Estonia

    Interview with Plant Manager Peep Kruuser at Saaremaa, Estonia

    [25.8.2008]

    NEFCO releases a video clip on carbon financing and the corporation's investments in renewable energy in Estonia. The video focuses at two projects, namely a wind park in Viru Nigula and a biogas project in Saaremaa in western Estonia. Both projects have been classified as so called Joint Implementation (JI) projects under the Kyoto protocol.

Russia seeks to engage HELCOM prime ministers in saving the Baltic Sea

Intro-text for frontpage: 

During its chairmanship of the Baltic Marine Environment Commission (HELCOM), known also as the Helsinki Commission, Russia is seeking to broaden the international cooperation on the Baltic Sea and focus greater political attention on its ecological status.

The Commission’s Chairman, Igor Maydanov, suggests that the heads of state of the member countries should be involved in decisions that affect the Baltic Sea Action Plan.

Picture in intro-text: 

Signs of severe eutrophication. Toxic algal blooms in Korpo, Southwestern Finland. Photograph: Matti Snellman/NEFCO ©.

Signs of severe eutrophication. Toxic algal blooms in Korpo, Southwestern Finland. Photograph: Matti Snellman/NEFCO ©.

Body: 

He spoke at a seminar organised by the Nordic Investment Bank (NIB) and the Nordic Environment Finance Corporation (NEFCO) in conjunction with the Nordic Council’s 60th session, held today in Helsinki.

“The best way to ensure the financing of HELCOM’s Baltic Sea Action Plan, and to see to it that the national measures are implemented, is to anchor the Action Plan on a higher political level,” he emphasised.

Read our press release in English, Russian, Finnish or Swedish.

Learn more about NIB and the Baltic Sea

Read more about the 60th Nordic Council Meeting in Helsinki

Learn more about HELCOM

 


  • Forester Urban Larsson from Rindi Energi is surrounded by logging residues. This is bio fuel!

    Forester Urban Larsson from Rindi Energi is surrounded by logging residues. This is bio fuel!

     

    [10.11.2008]

    The bleak autumn sunshine offers welcoming warmth as we approach a felling area in Gotsa in the proximity of Grodno in western Belarus. The local forestry company Grodno PLHO and the Grodno Region Forestry Board are responsible for the administration and clearing of the state-owned forests in the region.

    The forests in the Grodno-region are FSC-certified. Photograph: Patrik Rastenberger

    The forests in the Grodno-region are FSC-certified. Photograph: Patrik Rastenberger

     
    Logging operations in Gotsa, Belarus. Photograph: Patrik Rastenberger

    Logging operations in Gotsa, Belarus. Photograph: Patrik Rastenberger

    Around 7 million saplings are produced per year to ensure reforestation in the Grodno region. Photograph: Patrik Rastenberger

    Around 7 million saplings are produced per year to ensure reforestation in the Grodno region. Photograph: Patrik Rastenberger

    Andrei Bui, Head of Forester Department is briefing Urban Larsson about planned reforestation. Photograph: Patrik Rastenberger

    Andrei Bui, Head of Forester Department is briefing Urban Larsson about planned reforestation. Photograph: Patrik Rastenberger

    Biofuel. Belarus has set a goal to increase the share of renewable energy to 25 per cent of total production by 2012.

    Biofuel. Belarus has set a goal to increase the share of renewable energy to 25 per cent of total production by 2012.

  • [28.10.2008]

    During its chairmanship of the Baltic Marine Environment Commission (HELCOM), known also as the Helsinki Commission, Russia is seeking to broaden the international cooperation on the Baltic Sea and focus greater political attention on its ecological status. The Commission’s Chairman, Igor Maydanov, suggests that the heads of state of the member countries should be involved in decisions that affect the Baltic Sea Action Plan.

  • The global wind energy sector grew with 27 per cent in 2007.

    The global wind energy sector grew with 27 per cent in 2007.

    [15.10.2008]

    The Nordic Environment Finance Corporation announced on Wednesday that its Carbon Fund (NeCF) has signed Agreements to procure emission reductions from a wind energy project in Jiangsu province, and a small hydro project in southwest China. The projects will be implemented under the Kyoto Protocol's Clean Development Mechanism (CDM). These are NEFCO's first projects in China.

  • The global wind energy sector grew with 27 per cent in 2007.

    The global wind energy sector grew with 27 per cent in 2007.

    [15.10.2008]

    The Nordic Environment Finance Corporation announced on Wednesday that its Carbon Fund (NeCF) has signed Agreements to procure emission reductions from a wind energy project in Jiangsu province, and a small hydro project in southwest China. The projects will be implemented under the Kyoto Protocol's Clean Development Mechanism (CDM). These are NEFCO's first projects in China.

  • Biomass. NEFCO finances numerous projects where renewable energy is used for heat production. Photograph: Patrik Rastenberger.

    Biomass. NEFCO finances numerous projects where renewable energy is used for heat production. Photograph: Patrik Rastenberger.

     

    [13.10.2008]

    NEFCO has agreed on purchasing carbon credits from two new energy efficiency projects in Russia, namely in Strezhevoy, western Siberia and Priozersk, in the Leningrad region. Both projects aim at refurbishing the district heating networks in the cities concerned. The project in Priozersk is co-financed with the Danish Energy Agency DEA and it will also replace heavy fuel oil with biomass in local heat production.

  • Magnus Rystedt and Vosnuk Mykola surrounded by journalists at Bank Lviv.

    Magnus Rystedt and Vosnuk Mykola surrounded by journalists at Bank Lviv.

    [17.9.2008]

    NEFCO's and Bank Lviv's joint loan facility aimed at promoting energy efficiency is now fully operational. NEFCO's Managing Director Magnus Rystedt and Vosnuk Mykola, Chairman of the Board at Bank Lviv, signed the agreement in Lviv, western Ukraine on Wednesday. 

  • Minister Alexey Kucherenko and Managing Director Magnus Rystedt in Stockholm. Photograph: Christian Åslund

    Minister Alexey Kucherenko and Managing Director Magnus Rystedt in Stockholm. Photograph: Christian Åslund

     

    [5.9.2008]

    The Ukrainian government and NEFCO signed a memorandum of understanding on Friday in Stockholm, Sweden. The MoU will facilitate NEFCO's future investments in Ukraine. The agreement was signed by the Ukrainian minister of housing and communal services, Mr. Alexey Kucherenko and NEFCO's Managing Director Magnus Rystedt.

  • Reducing releases of climate gases is one of NEFCO's key priorities.

    Reducing releases of climate gases is one of NEFCO's key priorities.

     

    [3.9.2008]

    The Nordic Environment Finance Corporation's NEFCO Carbon Fund (NeCF), a Public Private Partnership, announces a new investor into the Fund. Industrialiseringsfonden for Udviklingslandene (IFU) or the Industrialisation Fund for Developing Countries, offers risk capital and advice to businesses investing in developing countries. IFU is an independent, self-governing fund established by the Danish state to assist Danish investments in developing countries and manager for IØ (Investeringsfonden for Østlandene) investing in Central and Eastern Europe. IFU will invest €5 million.

  • Reducing releases of climate gases is one of NEFCO's key priorities.

    Reducing releases of climate gases is one of NEFCO's key priorities.

     

    [3.9.2008]

    The Nordic Environment Finance Corporation's NEFCO Carbon Fund (NeCF), a Public Private Partnership, announces a new investor into the Fund. 

    Industrialiseringsfonden for Udviklingslandene (IFU) or the Industrialisation Fund for Developing Countries, offers risk capital and advice to businesses investing in developing countries. IFU is an independent, self-governing fund established by the Danish state to assist Danish investments in developing countries and manager for IØ (Investeringsfonden for Østlandene) investing in Central and Eastern Europe. IFU will invest €5 million.

  • Interview with Plant Manager Peep Kruuser at Saaremaa, Estonia

    Interview with Plant Manager Peep Kruuser at Saaremaa, Estonia

    [25.8.2008]

    NEFCO releases a video clip on carbon financing and the corporation's investments in renewable energy in Estonia. The video focuses at two projects, namely a wind park in Viru Nigula and a biogas project in Saaremaa in western Estonia. Both projects have been classified as so called Joint Implementation (JI) projects under the Kyoto protocol.

NEFCO Carbon Fund invests in wind energy and small hydropower in China

Intro-text for frontpage: 

The Nordic Environment Finance Corporation announced on Wednesday that its Carbon Fund (NeCF) has signed Agreements to procure emission reductions from a wind energy project in Jiangsu province, and a small hydro project in southwest China. The projects will be implemented under the Kyoto Protocol's Clean Development Mechanism (CDM). These are NEFCO's first projects in China.

Picture in intro-text: 

The global wind energy sector grew with 27 per cent in 2007.

The global wind energy sector grew with 27 per cent in 2007.

Body: 

The first CDM project is developed by the Chinese renewable energy company, the Yangtze New Energy Development Co. and will consist of installation of 134 wind turbines, each with a capacity of 1,5MW. The total capacity of 201 MW will generate an expected electricity production of 544 GWh. This is equivalent to supplying the electricity needs of over 119,000 average EU households.

Under the transaction, the NeCF is expected to purchase ca. 1.4 million Certified Emission Reductions. The renewable energy produced will displace a mix of fossil fuel-fired power generation from the East China grid.

The second transaction is a small hydro project located in south west China, which is expected to generate ca. 250,000 Certified Emission Reductions.

"These inaugural investments are an important milestone for the NEFCO Carbon Fund, coming only a few months after its founding. Moreover, by investing in wind power and small hydro, this emphasises our commitment to the promotion of high-quality, clean energy projects within our portfolio" said NeCF Fund Manager Ash Sharma.

The NeCF is evaluating a number of deals in the area of renewable energy and energy efficiency in China, India and south east Asia.

Read our press release in English, Swedish or Finnish

Learn more about the global wind energy sector

Learn more about carbon financing


  • Forester Urban Larsson from Rindi Energi is surrounded by logging residues. This is bio fuel!

    Forester Urban Larsson from Rindi Energi is surrounded by logging residues. This is bio fuel!

     

    [10.11.2008]

    The bleak autumn sunshine offers welcoming warmth as we approach a felling area in Gotsa in the proximity of Grodno in western Belarus. The local forestry company Grodno PLHO and the Grodno Region Forestry Board are responsible for the administration and clearing of the state-owned forests in the region.

    The forests in the Grodno-region are FSC-certified. Photograph: Patrik Rastenberger

    The forests in the Grodno-region are FSC-certified. Photograph: Patrik Rastenberger

     
    Logging operations in Gotsa, Belarus. Photograph: Patrik Rastenberger

    Logging operations in Gotsa, Belarus. Photograph: Patrik Rastenberger

    Around 7 million saplings are produced per year to ensure reforestation in the Grodno region. Photograph: Patrik Rastenberger

    Around 7 million saplings are produced per year to ensure reforestation in the Grodno region. Photograph: Patrik Rastenberger

    Andrei Bui, Head of Forester Department is briefing Urban Larsson about planned reforestation. Photograph: Patrik Rastenberger

    Andrei Bui, Head of Forester Department is briefing Urban Larsson about planned reforestation. Photograph: Patrik Rastenberger

    Biofuel. Belarus has set a goal to increase the share of renewable energy to 25 per cent of total production by 2012.

    Biofuel. Belarus has set a goal to increase the share of renewable energy to 25 per cent of total production by 2012.

  • [28.10.2008]

    During its chairmanship of the Baltic Marine Environment Commission (HELCOM), known also as the Helsinki Commission, Russia is seeking to broaden the international cooperation on the Baltic Sea and focus greater political attention on its ecological status. The Commission’s Chairman, Igor Maydanov, suggests that the heads of state of the member countries should be involved in decisions that affect the Baltic Sea Action Plan.

  • Signs of severe eutrophication. Toxic algal blooms in Korpo, Southwestern Finland. Photograph: Matti Snellman/NEFCO ©.

    Signs of severe eutrophication. Toxic algal blooms in Korpo, Southwestern Finland. Photograph: Matti Snellman/NEFCO ©.

    [28.10.2008]

    During its chairmanship of the Baltic Marine Environment Commission (HELCOM), known also as the Helsinki Commission, Russia is seeking to broaden the international cooperation on the Baltic Sea and focus greater political attention on its ecological status.

    The Commission’s Chairman, Igor Maydanov, suggests that the heads of state of the member countries should be involved in decisions that affect the Baltic Sea Action Plan.

  • The global wind energy sector grew with 27 per cent in 2007.

    The global wind energy sector grew with 27 per cent in 2007.

    [15.10.2008]

    The Nordic Environment Finance Corporation announced on Wednesday that its Carbon Fund (NeCF) has signed Agreements to procure emission reductions from a wind energy project in Jiangsu province, and a small hydro project in southwest China. The projects will be implemented under the Kyoto Protocol's Clean Development Mechanism (CDM). These are NEFCO's first projects in China.

  • Biomass. NEFCO finances numerous projects where renewable energy is used for heat production. Photograph: Patrik Rastenberger.

    Biomass. NEFCO finances numerous projects where renewable energy is used for heat production. Photograph: Patrik Rastenberger.

     

    [13.10.2008]

    NEFCO has agreed on purchasing carbon credits from two new energy efficiency projects in Russia, namely in Strezhevoy, western Siberia and Priozersk, in the Leningrad region. Both projects aim at refurbishing the district heating networks in the cities concerned. The project in Priozersk is co-financed with the Danish Energy Agency DEA and it will also replace heavy fuel oil with biomass in local heat production.

  • Magnus Rystedt and Vosnuk Mykola surrounded by journalists at Bank Lviv.

    Magnus Rystedt and Vosnuk Mykola surrounded by journalists at Bank Lviv.

    [17.9.2008]

    NEFCO's and Bank Lviv's joint loan facility aimed at promoting energy efficiency is now fully operational. NEFCO's Managing Director Magnus Rystedt and Vosnuk Mykola, Chairman of the Board at Bank Lviv, signed the agreement in Lviv, western Ukraine on Wednesday. 

  • Minister Alexey Kucherenko and Managing Director Magnus Rystedt in Stockholm. Photograph: Christian Åslund

    Minister Alexey Kucherenko and Managing Director Magnus Rystedt in Stockholm. Photograph: Christian Åslund

     

    [5.9.2008]

    The Ukrainian government and NEFCO signed a memorandum of understanding on Friday in Stockholm, Sweden. The MoU will facilitate NEFCO's future investments in Ukraine. The agreement was signed by the Ukrainian minister of housing and communal services, Mr. Alexey Kucherenko and NEFCO's Managing Director Magnus Rystedt.

  • Reducing releases of climate gases is one of NEFCO's key priorities.

    Reducing releases of climate gases is one of NEFCO's key priorities.

     

    [3.9.2008]

    The Nordic Environment Finance Corporation's NEFCO Carbon Fund (NeCF), a Public Private Partnership, announces a new investor into the Fund. Industrialiseringsfonden for Udviklingslandene (IFU) or the Industrialisation Fund for Developing Countries, offers risk capital and advice to businesses investing in developing countries. IFU is an independent, self-governing fund established by the Danish state to assist Danish investments in developing countries and manager for IØ (Investeringsfonden for Østlandene) investing in Central and Eastern Europe. IFU will invest €5 million.

  • Reducing releases of climate gases is one of NEFCO's key priorities.

    Reducing releases of climate gases is one of NEFCO's key priorities.

     

    [3.9.2008]

    The Nordic Environment Finance Corporation's NEFCO Carbon Fund (NeCF), a Public Private Partnership, announces a new investor into the Fund. 

    Industrialiseringsfonden for Udviklingslandene (IFU) or the Industrialisation Fund for Developing Countries, offers risk capital and advice to businesses investing in developing countries. IFU is an independent, self-governing fund established by the Danish state to assist Danish investments in developing countries and manager for IØ (Investeringsfonden for Østlandene) investing in Central and Eastern Europe. IFU will invest €5 million.

  • Interview with Plant Manager Peep Kruuser at Saaremaa, Estonia

    Interview with Plant Manager Peep Kruuser at Saaremaa, Estonia

    [25.8.2008]

    NEFCO releases a video clip on carbon financing and the corporation's investments in renewable energy in Estonia. The video focuses at two projects, namely a wind park in Viru Nigula and a biogas project in Saaremaa in western Estonia. Both projects have been classified as so called Joint Implementation (JI) projects under the Kyoto protocol.

NEFCO Carbon Fund invests in wind energy and small hydropower in China

Intro-text for frontpage: 

The Nordic Environment Finance Corporation announced on Wednesday that its Carbon Fund (NeCF) has signed Agreements to procure emission reductions from a wind energy project in Jiangsu province, and a small hydro project in southwest China. The projects will be implemented under the Kyoto Protocol's Clean Development Mechanism (CDM). These are NEFCO's first projects in China.

Picture in intro-text: 

The global wind energy sector grew with 27 per cent in 2007.

The global wind energy sector grew with 27 per cent in 2007.

Body: 

The first CDM project is developed by the Chinese renewable energy company, the Yangtze New Energy Development Co. and will consist of installation of 134 wind turbines, each with a capacity of 1,5MW. The total capacity of 201 MW will generate an expected electricity production of 544 GWh. This is equivalent to supplying the electricity needs of over 119,000 average EU households.

Under the transaction, the NeCF is expected to purchase ca. 1.4 million Certified Emission Reductions. The renewable energy produced will displace a mix of fossil fuel-fired power generation from the East China grid.

The second transaction is a small hydro project located in south west China, which is expected to generate ca. 250,000 Certified Emission Reductions.
"These inaugural investments are an important milestone for the NEFCO Carbon Fund, coming only a few months after its founding. Moreover, by investing in wind power and small hydro, this emphasises our commitment to the promotion of high-quality, clean energy projects within our portfolio" said NeCF Fund Manager Ash Sharma. The NeCF is evaluating a number of deals in the area of renewable energy and energy efficiency in China, India and south east Asia.

According to statistics from the Global Wind Energy Council, the global wind energy sector grew with 27 per cent last year alone. Forecasts provided by the industry suggest that the global wind market will grow by 155% to reach 240 GW by 2012.

China leads the way and the country is now the world’s fastest growing wind energy market, with an average annual growth rate of 56% in the past seven years. China has now reached the fifth place for installed wind energy capacity, with over 6 GW at the end of 2007. The Chinese Renewable Energy Industry Association (CREIA) forecasts a capacity of around 50 GW by 2015.

The global wind energy sector currently employs around 200,000 people around the world and the annual turnover in 2007 was estimated to 25 billion Euros.
The NEFCO Carbon Fund was launched in March 2008, and started operations in April 2008. It is currently capitalised at €42 million, but this is expected to increase in the coming months. The purpose of the facility is to procure carbon credits for compliance purposes under the EU Emission Trading Scheme and the Kyoto Protocol.
The fund is managed by the Nordic Environment Finance Corporation.

For Further Information :
Ash Sharma, Senior Investment Manager, Carbon Finance and Funds, NEFCO, + 358 400 811 327 
Mikael Sjövall, Communications Manager, NEFCO, +358 50 3535 045


  • Forester Urban Larsson from Rindi Energi is surrounded by logging residues. This is bio fuel!

    Forester Urban Larsson from Rindi Energi is surrounded by logging residues. This is bio fuel!

     

    [10.11.2008]

    The bleak autumn sunshine offers welcoming warmth as we approach a felling area in Gotsa in the proximity of Grodno in western Belarus. The local forestry company Grodno PLHO and the Grodno Region Forestry Board are responsible for the administration and clearing of the state-owned forests in the region.

    The forests in the Grodno-region are FSC-certified. Photograph: Patrik Rastenberger

    The forests in the Grodno-region are FSC-certified. Photograph: Patrik Rastenberger

     
    Logging operations in Gotsa, Belarus. Photograph: Patrik Rastenberger

    Logging operations in Gotsa, Belarus. Photograph: Patrik Rastenberger

    Around 7 million saplings are produced per year to ensure reforestation in the Grodno region. Photograph: Patrik Rastenberger

    Around 7 million saplings are produced per year to ensure reforestation in the Grodno region. Photograph: Patrik Rastenberger

    Andrei Bui, Head of Forester Department is briefing Urban Larsson about planned reforestation. Photograph: Patrik Rastenberger

    Andrei Bui, Head of Forester Department is briefing Urban Larsson about planned reforestation. Photograph: Patrik Rastenberger

    Biofuel. Belarus has set a goal to increase the share of renewable energy to 25 per cent of total production by 2012.

    Biofuel. Belarus has set a goal to increase the share of renewable energy to 25 per cent of total production by 2012.

  • [28.10.2008]

    During its chairmanship of the Baltic Marine Environment Commission (HELCOM), known also as the Helsinki Commission, Russia is seeking to broaden the international cooperation on the Baltic Sea and focus greater political attention on its ecological status. The Commission’s Chairman, Igor Maydanov, suggests that the heads of state of the member countries should be involved in decisions that affect the Baltic Sea Action Plan.

  • Signs of severe eutrophication. Toxic algal blooms in Korpo, Southwestern Finland. Photograph: Matti Snellman/NEFCO ©.

    Signs of severe eutrophication. Toxic algal blooms in Korpo, Southwestern Finland. Photograph: Matti Snellman/NEFCO ©.

    [28.10.2008]

    During its chairmanship of the Baltic Marine Environment Commission (HELCOM), known also as the Helsinki Commission, Russia is seeking to broaden the international cooperation on the Baltic Sea and focus greater political attention on its ecological status.

    The Commission’s Chairman, Igor Maydanov, suggests that the heads of state of the member countries should be involved in decisions that affect the Baltic Sea Action Plan.

  • The global wind energy sector grew with 27 per cent in 2007.

    The global wind energy sector grew with 27 per cent in 2007.

    [15.10.2008]

    The Nordic Environment Finance Corporation announced on Wednesday that its Carbon Fund (NeCF) has signed Agreements to procure emission reductions from a wind energy project in Jiangsu province, and a small hydro project in southwest China. The projects will be implemented under the Kyoto Protocol's Clean Development Mechanism (CDM). These are NEFCO's first projects in China.

  • Biomass. NEFCO finances numerous projects where renewable energy is used for heat production. Photograph: Patrik Rastenberger.

    Biomass. NEFCO finances numerous projects where renewable energy is used for heat production. Photograph: Patrik Rastenberger.

     

    [13.10.2008]

    NEFCO has agreed on purchasing carbon credits from two new energy efficiency projects in Russia, namely in Strezhevoy, western Siberia and Priozersk, in the Leningrad region. Both projects aim at refurbishing the district heating networks in the cities concerned. The project in Priozersk is co-financed with the Danish Energy Agency DEA and it will also replace heavy fuel oil with biomass in local heat production.

  • Magnus Rystedt and Vosnuk Mykola surrounded by journalists at Bank Lviv.

    Magnus Rystedt and Vosnuk Mykola surrounded by journalists at Bank Lviv.

    [17.9.2008]

    NEFCO's and Bank Lviv's joint loan facility aimed at promoting energy efficiency is now fully operational. NEFCO's Managing Director Magnus Rystedt and Vosnuk Mykola, Chairman of the Board at Bank Lviv, signed the agreement in Lviv, western Ukraine on Wednesday. 

  • Minister Alexey Kucherenko and Managing Director Magnus Rystedt in Stockholm. Photograph: Christian Åslund

    Minister Alexey Kucherenko and Managing Director Magnus Rystedt in Stockholm. Photograph: Christian Åslund

     

    [5.9.2008]

    The Ukrainian government and NEFCO signed a memorandum of understanding on Friday in Stockholm, Sweden. The MoU will facilitate NEFCO's future investments in Ukraine. The agreement was signed by the Ukrainian minister of housing and communal services, Mr. Alexey Kucherenko and NEFCO's Managing Director Magnus Rystedt.

  • Reducing releases of climate gases is one of NEFCO's key priorities.

    Reducing releases of climate gases is one of NEFCO's key priorities.

     

    [3.9.2008]

    The Nordic Environment Finance Corporation's NEFCO Carbon Fund (NeCF), a Public Private Partnership, announces a new investor into the Fund. Industrialiseringsfonden for Udviklingslandene (IFU) or the Industrialisation Fund for Developing Countries, offers risk capital and advice to businesses investing in developing countries. IFU is an independent, self-governing fund established by the Danish state to assist Danish investments in developing countries and manager for IØ (Investeringsfonden for Østlandene) investing in Central and Eastern Europe. IFU will invest €5 million.

  • Reducing releases of climate gases is one of NEFCO's key priorities.

    Reducing releases of climate gases is one of NEFCO's key priorities.

     

    [3.9.2008]

    The Nordic Environment Finance Corporation's NEFCO Carbon Fund (NeCF), a Public Private Partnership, announces a new investor into the Fund. 

    Industrialiseringsfonden for Udviklingslandene (IFU) or the Industrialisation Fund for Developing Countries, offers risk capital and advice to businesses investing in developing countries. IFU is an independent, self-governing fund established by the Danish state to assist Danish investments in developing countries and manager for IØ (Investeringsfonden for Østlandene) investing in Central and Eastern Europe. IFU will invest €5 million.

  • Interview with Plant Manager Peep Kruuser at Saaremaa, Estonia

    Interview with Plant Manager Peep Kruuser at Saaremaa, Estonia

    [25.8.2008]

    NEFCO releases a video clip on carbon financing and the corporation's investments in renewable energy in Estonia. The video focuses at two projects, namely a wind park in Viru Nigula and a biogas project in Saaremaa in western Estonia. Both projects have been classified as so called Joint Implementation (JI) projects under the Kyoto protocol.

Upgrading district heating in Russia

Intro-text for frontpage: 

NEFCO has agreed on purchasing carbon credits from two new energy efficiency projects in Russia, namely in Strezhevoy, western Siberia and Priozersk, in the Leningrad region. Both projects aim at refurbishing the district heating networks in the cities concerned. The project in Priozersk is co-financed with the Danish Energy Agency DEA and it will also replace heavy fuel oil with biomass in local heat production.

Picture in intro-text: 

Biomass. NEFCO finances numerous projects where renewable energy is used for heat production. Photograph: Patrik Rastenberger.

Biomass. NEFCO finances numerous projects where renewable energy is used for heat production. Photograph: Patrik Rastenberger.

 

Body: 

The projects are expected to reduce carbon dioxide emissions by approximately 60 000 tonnes per year. T