English

”It is time to implement the Baltic Sea Action Plan”

Submitted by mikael on Wed, 09/08/2010 - 14:47.

English
News

Intro-text for frontpage:

Speakers at a seminar, hosted by NEFCO and NIB in Stockholm on 7 September, called for concrete projects to be identified for improving the health of the Baltic Sea.

Gabriella Lindholm, the Chairperson of the Helsinki Commission, HELCOM, emphasised the role of the financial institutions in the implementation of the Baltic Sea Action Plan.

Picture in intro-text:

Harro Pitkänen and Gabriella Lindholm at the World Water Week in Stockholm. Photo: Kyra Koponen

Body:

During the discussion at the seminar, Harro Pitkänen, Senior Director at NIB, said that the Nordic finance institutions put a lot of hope that the national implementation plans would become a major tool for identifying projects eligible for financing. Furthermore, the identification of project owners is a key for the international financial institutions to successfully channel finance. The national implementation plans give the basis and mark the political will on which to build upon.

Gabriella Lindholm, the Chairperson of the Helsinki Commission, HELCOM, urged the states and organisations involved to start identifying concrete projects. She emphasised the role of the financial institutions in the implementation of the Baltic Sea Action Plan. In her opinion, it is very positive that the IFIs give increasing attention to the Baltic Sea in their programming, and are now linking their activities to the political processes, hence supporting to the implementation of the Baltic Sea Action Plan.

Mathias Bergman, Secretary-General at Baltic Sea Action Group, agreed and noted that HELCOM can call for action but cannot enforce it. According to Bergman, there exist abundant opportunities for environmental business in various sectors, for instance, in the waste management.

Professor Daniel J. Conley from Lund University spoke on reducing nutrient discharges into the Baltic Sea. He said that sewage treatment, less fertilizers and manure treatment in agriculture as well as less polluting shipping should be the major priorities, towards which the limited resources should be aimed in dealing with the ecological status of the Baltic Sea.

Senior Manager Karl-Johan Lehtinen from NEFCO presented the Baltic Sea Action Plan Fund jointly managed by NIB and NEFCO. It is a technical fund aimed at supporting different phases of projects to prepare them for financing.

The seminar “From Source to Sea: Financing Concrete Actions to Save the Baltic Sea” was organised by NEFCO and NIB, within the framework of the World Water Week in Stockholm.

NEFCO and Neste Jacobs to cooperate on oil offloading ventures

Submitted by volodymyr on Fri, 04/30/2010 - 17:17.

English
News

Intro-text for frontpage:

NEFCO and Neste Jacobs have reached an agreement to finance and implement projects to ensure the safe offloading of oil products at terminals in Russia, Ukraine and Belarus.

Under the terms of the agreement, NEFCO will fund the operations while Neste Jacobs will provide the oil offloading technology and its engineering services.

Picture in intro-text:

Murmansk hosts one of Russia's oil harbours. Photo: Patrik Rastenberger

Body:

Neste Jacobs, which is the leading provider of engineering services for oil, chemical and biotechnology companies in the Nordic region, has considerable experience in supplying oil offloading equipment and its ECOARM technology is highly regarded in the industry. The system, among other things, effectively prevents leakages and discharges of oil products into the environment during the offloading process from railway containers.

ECOARM products, which include pumping heads, jet pipes, heat exchanger units and hydraulic units are partly manufactured and assembled in Finland by PMC Polarteknik.

NEFCO has previously financed a wide range of projects to reduce discharges of hazardous chemicals and oil products into the environment in Eastern Europe. The corporation has also financed delivery of oil spill response equipment to ecologically vulnerable areas in Russia.
Through its Barents Hot Spots Facility, NEFCO has financed feasibility studies to rehabilitate soil at contaminated oil terminals.

Learn more about Neste Jacobs

Learn more about PMC Polarteknik

Harro Pitkänen and Gabriella Lindholm at the World Water Week in Stockholm. Photo: Kyra Koponen

”It is time to implement the Baltic Sea Action Plan”
[8.9.2010]
Speakers at a seminar, hosted by NEFCO and NIB in Stockholm on 7 September, called for concrete projects to be identified for improving the health of the Baltic Sea.

Gabriella Lindholm, the Chairperson of the Helsinki Commission, HELCOM, emphasised the role of the financial institutions in the implementation of the Baltic Sea Action Plan.

Read more
Vodokanal's Site Manager Olga Lominoga in Kronstadt. Photo: Patrik Rastenberger

Upgrading of sewage treatment plants
[2.9.2010]
Embraced by the Gulf of Finland, Kronstadt bathes in sunlight. Several kilometres away, its cathedral is dimly silhouetted against the horizon.

The project at Kronstadt will include modernization of aeration tanks. Photo: Patrik Rastenberger
Showing off at the beach in Kronstadt. Photo: Patrik Rastenberger
Every day Kronstadt treats wastewater from 43,000 people. Photo: Patrik Rastenberger
Director Dmitry A. Karlik wants St. Petersburg removed from HELCOM's list of environmental hot spots. Photo: Patrik Rastenberger
Into the future at full swing in Kronstadt. Photo: Patrik Rastenberger

Read more
MP Christina Gestrin, Photo: Nordic Council of Ministers

Parliamentarians call for enforcement of the Baltic Sea Action Plan
[30.8.2010]
The Chair of the Baltic Sea Parliamentary Conference, MP Christina Gestrin from Finland, urges all countries bordering the Baltic Sea to have their national action plans for the marine environment ready by the beginning of 2011.

The demand was put forward at the Baltic Sea Parliamentary Conference in Mariehamn, Åland on Monday.

Read more
Combating climate change. NeCF has placed EUR 100 million in renewable energy. Photo: Patrik Rastenberger

NEFCO launches second tranche for its carbon fund NeCF
[17.8.2010]
NEFCO has launched a EUR 30 million capital raising exercise for its carbon procurement vehicle, the NEFCO Carbon Fund (NeCF). The Tranche II subscription will be aimed principally at post 2012 purchases.

The NeCF was launched in April 2008, to procure high quality compliance units for obligated entities under the Kyoto Protocol and the EU Emissions Trading Scheme.

Read more
NEFCO launches NeCF Tranche II “Kyoto Plus”
[17.8.2010]
The Nordic Environment Finance Corporation (NEFCO) has launched a EUR 30 million capital raising exercise for its carbon procurement vehicle, the NEFCO Carbon Fund (NeCF). The Tranche II subscription will be aimed principally at post 2012 purchases.

Read more
Kronstadt wastewater treatment plant will be upgraded partly with NEFCO's loan. Photo: Patrik Rastenberger

St. Petersburg wastewater treatment upgrade continues
[5.8.2010]
NEFCO and the Finnish Ministry of the Environment are financing the modernization of ten small wastewater treatment plants in St. Petersburg. NEFCO has approved a loan of EUR 5 million and the Finnish Ministry of the Environment has committed EUR 1 million for the project.

The other financiers of the scheme are the Northern Dimension Environmental Programme (NDEP) and the local waterworks company Vodokanal, which is also responsible for implementing the project.

Read more
St. Petersburg wastewater treatment upgrade continues
[5.8.2010]
The Nordic Environment Finance Corporation (NEFCO) and the Finnish Ministry of the Environment are financing the modernization of ten small wastewater treatment plants in St. Petersburg. NEFCO has approved a loan of EUR 5 million and the Finnish Ministry of the Environment has committed EUR 1 million for the project.

Read more
Managing Director Magnus Rystedt surrounded by journalists in Sosnovy Bor.

NEFCO signs agreement on upgrading wastewater treatment in Sosnovy Bor
[4.8.2010]
NEFCO and the waterworks in Sosnovy Bor, Northwestern Russia, signed on Wednesday an agreement on upgrading the local wastewater treatment.

NEFCO will grant a loan of 750,000 EUR in a project, which is expected to reduce the discharges of eutrophying phosphorus by some 22 tonnes per year. This corresponds to the annual untreated discharges of wastewater from approximately 30,000 people.

Read more
NEFCO signs agreement on wastewater treatment in Sosnovy Bor
[4.8.2010]
NEFCO and the waterworks in Sosnovy Bor, Northwestern Russia, have today signed an agreement on upgrading the local wastewater treatment. NEFCO will grant a loan of 750,000 EUR in a project, which is expected to reduce the discharges of eutrophying phosphorus by some 22 tonnes per year. This corresponds to the annual untreated discharges of wastewater from approximately 30,000 people.

Read more
The Southwest wastewater treatment plant in St. Petersburg was partially financed by NDEP.

NEFCO chairs Northern Dimension Environmental Partnership
[20.7.2010]
NEFCO has assumed the chairmanship of the Northern Dimension Environmental Partnership (NDEP).

Specifically NEFCO will manage the activities of the organization’s Steering Group, which is responsible for initiating and implementing environmental development projects in the Northern Dimension Area of Northwestern Russia.

Read more

NEFCO invests in paint factory in Ukraine

Submitted by mikael on Tue, 04/13/2010 - 10:03.

English
News

Intro-text for frontpage:

NEFCO is investing in the production of environmentally friendly paint in Ukraine. NEFCO announced on Tuesday that the corporation is investing EUR 2.2 million in a project, aimed at establishing a paint factory which will produce waterborne paint in Odessa, southern Ukraine.

The factory will be built by the Swedish company Eskaro and the project is valued at EUR 10.6 million. The project will also be financed by Swedfund and the Eskaro Group.

Picture in intro-text:

Aerial view of a Ukrainian river delta. The NEFCO-financed paint factory will reduce harmful discharges to waterways.

Body:

The new factory will replace local production of oil based paint. Production will be based on a closed circuit, which will not cause environmentally harmful discharges into surrounding waterways.

“One of the advantages in producing waterborne paint is that one can avoid discharges of volatile organic compounds (VOCs), which are emitted from oil based paint. This project is expected to reduce discharges of VOCs by some 870 tonnes per year,” says Karl-Johan Lehtinen, Senior Manager at NEFCO’s environmental unit.

Some VOCs can cause cancer. VOCs also contribute to the creation of ground-level ozone, which in turn can harm vegetation in the ecology.

“Eskaro has sold waterborne paint in Ukraine for over 15 years already. When we started out, oil based paints made up over 95 per cent of the Ukrainian market. Now the waterborne, environmentally-friendly paint products constitute some 30 per cent of the market. The political stability and improved financial situation in the country have inspired us to make the final move and start up our own production in Ukraine, says Pertti Pihlström,” Chairman of the Board at the Eskaro Group.

“We hope that this project will generate a demonstration effect, which will trigger interest in similar projects elsewhere in Ukraine. We are, in other words, inviting Ukrainian companies to make use of our financial instruments in order to expand environmentally cleaner production in the country,” says Torben Vindeløv, Vice President at NEFCO.

Read our press release in English, Swedish, Russian or Ukrainian

Learn more about the Eskaro Group

Harro Pitkänen and Gabriella Lindholm at the World Water Week in Stockholm. Photo: Kyra Koponen

”It is time to implement the Baltic Sea Action Plan”
[8.9.2010]
Speakers at a seminar, hosted by NEFCO and NIB in Stockholm on 7 September, called for concrete projects to be identified for improving the health of the Baltic Sea.

Gabriella Lindholm, the Chairperson of the Helsinki Commission, HELCOM, emphasised the role of the financial institutions in the implementation of the Baltic Sea Action Plan.

Read more
Vodokanal's Site Manager Olga Lominoga in Kronstadt. Photo: Patrik Rastenberger

Upgrading of sewage treatment plants
[2.9.2010]
Embraced by the Gulf of Finland, Kronstadt bathes in sunlight. Several kilometres away, its cathedral is dimly silhouetted against the horizon.

The project at Kronstadt will include modernization of aeration tanks. Photo: Patrik Rastenberger
Showing off at the beach in Kronstadt. Photo: Patrik Rastenberger
Every day Kronstadt treats wastewater from 43,000 people. Photo: Patrik Rastenberger
Director Dmitry A. Karlik wants St. Petersburg removed from HELCOM's list of environmental hot spots. Photo: Patrik Rastenberger
Into the future at full swing in Kronstadt. Photo: Patrik Rastenberger

Read more
MP Christina Gestrin, Photo: Nordic Council of Ministers

Parliamentarians call for enforcement of the Baltic Sea Action Plan
[30.8.2010]
The Chair of the Baltic Sea Parliamentary Conference, MP Christina Gestrin from Finland, urges all countries bordering the Baltic Sea to have their national action plans for the marine environment ready by the beginning of 2011.

The demand was put forward at the Baltic Sea Parliamentary Conference in Mariehamn, Åland on Monday.

Read more
Combating climate change. NeCF has placed EUR 100 million in renewable energy. Photo: Patrik Rastenberger

NEFCO launches second tranche for its carbon fund NeCF
[17.8.2010]
NEFCO has launched a EUR 30 million capital raising exercise for its carbon procurement vehicle, the NEFCO Carbon Fund (NeCF). The Tranche II subscription will be aimed principally at post 2012 purchases.

The NeCF was launched in April 2008, to procure high quality compliance units for obligated entities under the Kyoto Protocol and the EU Emissions Trading Scheme.

Read more
NEFCO launches NeCF Tranche II “Kyoto Plus”
[17.8.2010]
The Nordic Environment Finance Corporation (NEFCO) has launched a EUR 30 million capital raising exercise for its carbon procurement vehicle, the NEFCO Carbon Fund (NeCF). The Tranche II subscription will be aimed principally at post 2012 purchases.

Read more
Kronstadt wastewater treatment plant will be upgraded partly with NEFCO's loan. Photo: Patrik Rastenberger

St. Petersburg wastewater treatment upgrade continues
[5.8.2010]
NEFCO and the Finnish Ministry of the Environment are financing the modernization of ten small wastewater treatment plants in St. Petersburg. NEFCO has approved a loan of EUR 5 million and the Finnish Ministry of the Environment has committed EUR 1 million for the project.

The other financiers of the scheme are the Northern Dimension Environmental Programme (NDEP) and the local waterworks company Vodokanal, which is also responsible for implementing the project.

Read more
St. Petersburg wastewater treatment upgrade continues
[5.8.2010]
The Nordic Environment Finance Corporation (NEFCO) and the Finnish Ministry of the Environment are financing the modernization of ten small wastewater treatment plants in St. Petersburg. NEFCO has approved a loan of EUR 5 million and the Finnish Ministry of the Environment has committed EUR 1 million for the project.

Read more
Managing Director Magnus Rystedt surrounded by journalists in Sosnovy Bor.

NEFCO signs agreement on upgrading wastewater treatment in Sosnovy Bor
[4.8.2010]
NEFCO and the waterworks in Sosnovy Bor, Northwestern Russia, signed on Wednesday an agreement on upgrading the local wastewater treatment.

NEFCO will grant a loan of 750,000 EUR in a project, which is expected to reduce the discharges of eutrophying phosphorus by some 22 tonnes per year. This corresponds to the annual untreated discharges of wastewater from approximately 30,000 people.

Read more
NEFCO signs agreement on wastewater treatment in Sosnovy Bor
[4.8.2010]
NEFCO and the waterworks in Sosnovy Bor, Northwestern Russia, have today signed an agreement on upgrading the local wastewater treatment. NEFCO will grant a loan of 750,000 EUR in a project, which is expected to reduce the discharges of eutrophying phosphorus by some 22 tonnes per year. This corresponds to the annual untreated discharges of wastewater from approximately 30,000 people.

Read more
The Southwest wastewater treatment plant in St. Petersburg was partially financed by NDEP.

NEFCO chairs Northern Dimension Environmental Partnership
[20.7.2010]
NEFCO has assumed the chairmanship of the Northern Dimension Environmental Partnership (NDEP).

Specifically NEFCO will manage the activities of the organization’s Steering Group, which is responsible for initiating and implementing environmental development projects in the Northern Dimension Area of Northwestern Russia.

Read more

TGF takes stock of five years of pioneering work in Joint Implementation

Submitted by mikael on Wed, 03/17/2010 - 11:11.

English
News

Intro-text for frontpage:

For the past five years, NEFCO has been an active participant in the project-based segment of the carbon markets which have mobilised significant new investments for climate change mitigation.

The Baltic Sea Region Testing Ground Facility (TGF), a pioneering regional carbon fund managed by NEFCO, has committed over 35 million EUR of public and private capital to reward greenhouse gas emission reductions achieved by energy sector and other projects in the Baltic Sea Region through the Kyoto Protocol’s Joint Implementation (JI) mechanism.

Picture in intro-text:

Estonia registered NEFCO's first wind farm project under the national JI-track 1 in December 2009.

Body:

The TGF’s active procurement phase began in early 2005 and ended in December 2009. Since April 2006, the TGF has been a public private partnership with the addition of nine private sector participants, in addition to the founding six sovereign investors (Denmark, Finland, Germany, Iceland, Norway and Sweden).

In a newly published report, NEFCO takes stock of the TGF’s experiences and lessons learned over this five-year period. A founding objective was to provide economic resources for JI project. The TGF has over the years, evaluated over 200 investment proposals in Russia, Ukraine and the Baltic countries, mostly in the energy sector, presenting almost 100 to its Investor’s Committee and ultimately developed a portfolio of 13 projects with signed Emission Reduction Purchase Agreements (ERPA).

“The final portfolio represents over 400 million EUR of capital investment in cleaner energy technologies, hence each euro of TGF carbon financing leverages over 10 EUR of investment. Most of these projects have been in the renewable energy, energy efficiency and fuel switching sectors”, said Ash Sharma, who has been the Fund Manager since 2005.

The TGF has engaged a wide range of stakeholders in the course of its work, notably project owners, host governments, financing institutions, consultants and auditors. An important part of its mandate was to disseminate the knowledge gained through implementation of real investments and build capacity through “learning by doing”. This has occurred against a backdrop of an evolving regulatory environment, since the TGF started operations before the Kyoto Protocol was ratified and the JI procedures have developed since then. Today, the TGF has “registered” 5 of its projects out of a tally of 16 globally, and is one of the first programmes where AAUs and ERUs has been issued and distributed to participants.

“The main benefit of JI has been to provide an additional revenue stream that can support energy projects over a period of time, creating incentives for good management and appropriate monitoring, Ash Sharma concludes.

However, the report also cautions that the modalities and procedures of the mechanism need upgrading to ensure a more timely and predictable flow of projects, and that climate policy needs to recognises the role of JI in a post Kyoto environment if JI is to realise its full potential.

Access the full report here

Read the article above in Russian

Learn more about carbon financing

Learn more about Joint Implementation

Harro Pitkänen and Gabriella Lindholm at the World Water Week in Stockholm. Photo: Kyra Koponen

”It is time to implement the Baltic Sea Action Plan”
[8.9.2010]
Speakers at a seminar, hosted by NEFCO and NIB in Stockholm on 7 September, called for concrete projects to be identified for improving the health of the Baltic Sea.

Gabriella Lindholm, the Chairperson of the Helsinki Commission, HELCOM, emphasised the role of the financial institutions in the implementation of the Baltic Sea Action Plan.

Read more
Vodokanal's Site Manager Olga Lominoga in Kronstadt. Photo: Patrik Rastenberger

Upgrading of sewage treatment plants
[2.9.2010]
Embraced by the Gulf of Finland, Kronstadt bathes in sunlight. Several kilometres away, its cathedral is dimly silhouetted against the horizon.

The project at Kronstadt will include modernization of aeration tanks. Photo: Patrik Rastenberger
Showing off at the beach in Kronstadt. Photo: Patrik Rastenberger
Every day Kronstadt treats wastewater from 43,000 people. Photo: Patrik Rastenberger
Director Dmitry A. Karlik wants St. Petersburg removed from HELCOM's list of environmental hot spots. Photo: Patrik Rastenberger
Into the future at full swing in Kronstadt. Photo: Patrik Rastenberger

Read more
MP Christina Gestrin, Photo: Nordic Council of Ministers

Parliamentarians call for enforcement of the Baltic Sea Action Plan
[30.8.2010]
The Chair of the Baltic Sea Parliamentary Conference, MP Christina Gestrin from Finland, urges all countries bordering the Baltic Sea to have their national action plans for the marine environment ready by the beginning of 2011.

The demand was put forward at the Baltic Sea Parliamentary Conference in Mariehamn, Åland on Monday.

Read more
Combating climate change. NeCF has placed EUR 100 million in renewable energy. Photo: Patrik Rastenberger

NEFCO launches second tranche for its carbon fund NeCF
[17.8.2010]
NEFCO has launched a EUR 30 million capital raising exercise for its carbon procurement vehicle, the NEFCO Carbon Fund (NeCF). The Tranche II subscription will be aimed principally at post 2012 purchases.

The NeCF was launched in April 2008, to procure high quality compliance units for obligated entities under the Kyoto Protocol and the EU Emissions Trading Scheme.

Read more
NEFCO launches NeCF Tranche II “Kyoto Plus”
[17.8.2010]
The Nordic Environment Finance Corporation (NEFCO) has launched a EUR 30 million capital raising exercise for its carbon procurement vehicle, the NEFCO Carbon Fund (NeCF). The Tranche II subscription will be aimed principally at post 2012 purchases.

Read more
Kronstadt wastewater treatment plant will be upgraded partly with NEFCO's loan. Photo: Patrik Rastenberger

St. Petersburg wastewater treatment upgrade continues
[5.8.2010]
NEFCO and the Finnish Ministry of the Environment are financing the modernization of ten small wastewater treatment plants in St. Petersburg. NEFCO has approved a loan of EUR 5 million and the Finnish Ministry of the Environment has committed EUR 1 million for the project.

The other financiers of the scheme are the Northern Dimension Environmental Programme (NDEP) and the local waterworks company Vodokanal, which is also responsible for implementing the project.

Read more
St. Petersburg wastewater treatment upgrade continues
[5.8.2010]
The Nordic Environment Finance Corporation (NEFCO) and the Finnish Ministry of the Environment are financing the modernization of ten small wastewater treatment plants in St. Petersburg. NEFCO has approved a loan of EUR 5 million and the Finnish Ministry of the Environment has committed EUR 1 million for the project.

Read more
Managing Director Magnus Rystedt surrounded by journalists in Sosnovy Bor.

NEFCO signs agreement on upgrading wastewater treatment in Sosnovy Bor
[4.8.2010]
NEFCO and the waterworks in Sosnovy Bor, Northwestern Russia, signed on Wednesday an agreement on upgrading the local wastewater treatment.

NEFCO will grant a loan of 750,000 EUR in a project, which is expected to reduce the discharges of eutrophying phosphorus by some 22 tonnes per year. This corresponds to the annual untreated discharges of wastewater from approximately 30,000 people.

Read more
NEFCO signs agreement on wastewater treatment in Sosnovy Bor
[4.8.2010]
NEFCO and the waterworks in Sosnovy Bor, Northwestern Russia, have today signed an agreement on upgrading the local wastewater treatment. NEFCO will grant a loan of 750,000 EUR in a project, which is expected to reduce the discharges of eutrophying phosphorus by some 22 tonnes per year. This corresponds to the annual untreated discharges of wastewater from approximately 30,000 people.

Read more
The Southwest wastewater treatment plant in St. Petersburg was partially financed by NDEP.

NEFCO chairs Northern Dimension Environmental Partnership
[20.7.2010]
NEFCO has assumed the chairmanship of the Northern Dimension Environmental Partnership (NDEP).

Specifically NEFCO will manage the activities of the organization’s Steering Group, which is responsible for initiating and implementing environmental development projects in the Northern Dimension Area of Northwestern Russia.

Read more

NEFCO’s carbon funds expanded in volume and scope in 2009

Submitted by mikael on Wed, 03/10/2010 - 16:15.

English
News

Intro-text for frontpage:

The Carbon Finance and Funds (CFF) operations of NEFCO expanded in both volume and scope in 2009, against a backdrop of difficult economic conditions globally and political uncertainty regarding international climate policy.

The NEFCO Carbon Fund (NeCF), now with financial resources exceeding 100 million euro, has been active in sustainable energy investments in Asia and Africa. NEFCO's pioneering Baltic Sea Region Testing Ground Facility (TGF), a 35-million-euro regional carbon finance facility, concluded its active procurement and entered fund administration phase in 2009.

Picture in intro-text:

NeCF signed an emission reduction purchase agreement from a hydro power project in Vietnam last year.

Body:

Both funds are structured as public-private partnerships with investments from governments and private sector utilities and industrial companies and act as compliance vehicles that purchase Certified Emission Reductions (CERs) and Emission Reduction Units (ERUs) from projects that reduce greenhouse gas (GHG) emissions under the Kyoto Protocol.

“The year witnessed good progress by the carbon funds administered by NEFCO, despite a difficult trading environment globally which has affected the financing climate for sustainable energy investments in general, and weaker carbon prices in particular in the first half of 2009”, said Ash Sharma, Head of the Carbon Finance Unit.

Notwithstanding external market constraints, the NEFCO Carbon Fund (NeCF) has seen a high level of project activity throughout the year. The TGF also saw its first deliveries of early credit AAUs and ERUs in this year from the Benaiciai wind project in Lithuania, as well as new project registrations in Lithuania (Track 2), Estonia and Ukraine (Track 1).

In 2009, a new technical assistance fund, the Nordic Climate Facility (NCF) supporting mitigation and adaptation actions for the poorest countries was launched, in association with the Nordic Development Fund (NDF).

The NEFCO Carbon Fund (NeCF), which was established in 2008, expanded its capital base by EUR 24 million. Two notable initiatives undertaken by the fund have been the agreement in Vietnam to purchase emission reduction units from a hydro project in the country and from a project aimed at improving energy efficiency at a cement factory in China.

Read the Carbon Finance and Funds Operational Review 2009

Read the article above in Russian

Learn more about carbon financing

Harro Pitkänen and Gabriella Lindholm at the World Water Week in Stockholm. Photo: Kyra Koponen

”It is time to implement the Baltic Sea Action Plan”
[8.9.2010]
Speakers at a seminar, hosted by NEFCO and NIB in Stockholm on 7 September, called for concrete projects to be identified for improving the health of the Baltic Sea.

Gabriella Lindholm, the Chairperson of the Helsinki Commission, HELCOM, emphasised the role of the financial institutions in the implementation of the Baltic Sea Action Plan.

Read more
Vodokanal's Site Manager Olga Lominoga in Kronstadt. Photo: Patrik Rastenberger

Upgrading of sewage treatment plants
[2.9.2010]
Embraced by the Gulf of Finland, Kronstadt bathes in sunlight. Several kilometres away, its cathedral is dimly silhouetted against the horizon.

The project at Kronstadt will include modernization of aeration tanks. Photo: Patrik Rastenberger
Showing off at the beach in Kronstadt. Photo: Patrik Rastenberger
Every day Kronstadt treats wastewater from 43,000 people. Photo: Patrik Rastenberger
Director Dmitry A. Karlik wants St. Petersburg removed from HELCOM's list of environmental hot spots. Photo: Patrik Rastenberger
Into the future at full swing in Kronstadt. Photo: Patrik Rastenberger

Read more
MP Christina Gestrin, Photo: Nordic Council of Ministers

Parliamentarians call for enforcement of the Baltic Sea Action Plan
[30.8.2010]
The Chair of the Baltic Sea Parliamentary Conference, MP Christina Gestrin from Finland, urges all countries bordering the Baltic Sea to have their national action plans for the marine environment ready by the beginning of 2011.

The demand was put forward at the Baltic Sea Parliamentary Conference in Mariehamn, Åland on Monday.

Read more
Combating climate change. NeCF has placed EUR 100 million in renewable energy. Photo: Patrik Rastenberger

NEFCO launches second tranche for its carbon fund NeCF
[17.8.2010]
NEFCO has launched a EUR 30 million capital raising exercise for its carbon procurement vehicle, the NEFCO Carbon Fund (NeCF). The Tranche II subscription will be aimed principally at post 2012 purchases.

The NeCF was launched in April 2008, to procure high quality compliance units for obligated entities under the Kyoto Protocol and the EU Emissions Trading Scheme.

Read more
NEFCO launches NeCF Tranche II “Kyoto Plus”
[17.8.2010]
The Nordic Environment Finance Corporation (NEFCO) has launched a EUR 30 million capital raising exercise for its carbon procurement vehicle, the NEFCO Carbon Fund (NeCF). The Tranche II subscription will be aimed principally at post 2012 purchases.

Read more
Kronstadt wastewater treatment plant will be upgraded partly with NEFCO's loan. Photo: Patrik Rastenberger

St. Petersburg wastewater treatment upgrade continues
[5.8.2010]
NEFCO and the Finnish Ministry of the Environment are financing the modernization of ten small wastewater treatment plants in St. Petersburg. NEFCO has approved a loan of EUR 5 million and the Finnish Ministry of the Environment has committed EUR 1 million for the project.

The other financiers of the scheme are the Northern Dimension Environmental Programme (NDEP) and the local waterworks company Vodokanal, which is also responsible for implementing the project.

Read more
St. Petersburg wastewater treatment upgrade continues
[5.8.2010]
The Nordic Environment Finance Corporation (NEFCO) and the Finnish Ministry of the Environment are financing the modernization of ten small wastewater treatment plants in St. Petersburg. NEFCO has approved a loan of EUR 5 million and the Finnish Ministry of the Environment has committed EUR 1 million for the project.

Read more
Managing Director Magnus Rystedt surrounded by journalists in Sosnovy Bor.

NEFCO signs agreement on upgrading wastewater treatment in Sosnovy Bor
[4.8.2010]
NEFCO and the waterworks in Sosnovy Bor, Northwestern Russia, signed on Wednesday an agreement on upgrading the local wastewater treatment.

NEFCO will grant a loan of 750,000 EUR in a project, which is expected to reduce the discharges of eutrophying phosphorus by some 22 tonnes per year. This corresponds to the annual untreated discharges of wastewater from approximately 30,000 people.

Read more
NEFCO signs agreement on wastewater treatment in Sosnovy Bor
[4.8.2010]
NEFCO and the waterworks in Sosnovy Bor, Northwestern Russia, have today signed an agreement on upgrading the local wastewater treatment. NEFCO will grant a loan of 750,000 EUR in a project, which is expected to reduce the discharges of eutrophying phosphorus by some 22 tonnes per year. This corresponds to the annual untreated discharges of wastewater from approximately 30,000 people.

Read more
The Southwest wastewater treatment plant in St. Petersburg was partially financed by NDEP.

NEFCO chairs Northern Dimension Environmental Partnership
[20.7.2010]
NEFCO has assumed the chairmanship of the Northern Dimension Environmental Partnership (NDEP).

Specifically NEFCO will manage the activities of the organization’s Steering Group, which is responsible for initiating and implementing environmental development projects in the Northern Dimension Area of Northwestern Russia.

Read more

NEFCO’s 2009 financial accounts show encouraging environmental benefits

Submitted by mikael on Thu, 03/04/2010 - 14:16.

English
News

Intro-text for frontpage:

The Nordic Environment Finance Corporation’s financial accounts for 2009 show encouraging environmental results. The corporation’s environmental status report indicates that, compared to 2008, the emission of environmentally harmful substances in projects co-financed by NEFCO decreased substantially.

Overall, there were considerable reductions in emissions of carbon, sulphur and nitrogen oxides, phosphorus as well as nitrogen.

Picture in intro-text:

NEFCO's investments reduced electricity consumption by 5.5 million MWh last year. Photo: Patrik Rastenberger

Body:

NEFCO-financed direct and indirect reductions of carbon dioxide emissions amounted to 2.5 million tonnes, which roughly corresponds to 80 per cent of the City of Helsinki’s annual emissions.

All in all, last year NEFCO approved and administered 50 new projects – an admirable feat given the difficult financial environment in the corporation’s main operational markets in Russia and the Ukraine. Overall, NEFCO- financed projects has resulted in the upgrading of wastewater treatment plants, improved waste treatment as well as cleaner production lines at industrial facilities.

Largely as a result of earnings from its share investments in other companies, NEFCO achieved a healthy EUR 14.7 million surplus in its 2009 financial accounts. The overall capital base for funds administered by the corporation increased by 17 per cent to some EUR 270 million as an addition to the corporation’s own base capital.

”Despite the global recession and the down-scaling of our lending operations in the Baltic States, we have managed to maintain a steady flow of funding for projects, which are currently generating significant reductions in the emissions of environmentally hazardous substances ”, says NEFCO’s Managing Director, Magnus Rystedt.

Read our press release in English, Danish, Finnish, Icelandic, Norwegian, Russian or Swedish

Harro Pitkänen and Gabriella Lindholm at the World Water Week in Stockholm. Photo: Kyra Koponen

”It is time to implement the Baltic Sea Action Plan”
[8.9.2010]
Speakers at a seminar, hosted by NEFCO and NIB in Stockholm on 7 September, called for concrete projects to be identified for improving the health of the Baltic Sea.

Gabriella Lindholm, the Chairperson of the Helsinki Commission, HELCOM, emphasised the role of the financial institutions in the implementation of the Baltic Sea Action Plan.

Read more
Vodokanal's Site Manager Olga Lominoga in Kronstadt. Photo: Patrik Rastenberger

Upgrading of sewage treatment plants
[2.9.2010]
Embraced by the Gulf of Finland, Kronstadt bathes in sunlight. Several kilometres away, its cathedral is dimly silhouetted against the horizon.

The project at Kronstadt will include modernization of aeration tanks. Photo: Patrik Rastenberger
Showing off at the beach in Kronstadt. Photo: Patrik Rastenberger
Every day Kronstadt treats wastewater from 43,000 people. Photo: Patrik Rastenberger
Director Dmitry A. Karlik wants St. Petersburg removed from HELCOM's list of environmental hot spots. Photo: Patrik Rastenberger
Into the future at full swing in Kronstadt. Photo: Patrik Rastenberger

Read more
MP Christina Gestrin, Photo: Nordic Council of Ministers

Parliamentarians call for enforcement of the Baltic Sea Action Plan
[30.8.2010]
The Chair of the Baltic Sea Parliamentary Conference, MP Christina Gestrin from Finland, urges all countries bordering the Baltic Sea to have their national action plans for the marine environment ready by the beginning of 2011.

The demand was put forward at the Baltic Sea Parliamentary Conference in Mariehamn, Åland on Monday.

Read more
Combating climate change. NeCF has placed EUR 100 million in renewable energy. Photo: Patrik Rastenberger

NEFCO launches second tranche for its carbon fund NeCF
[17.8.2010]
NEFCO has launched a EUR 30 million capital raising exercise for its carbon procurement vehicle, the NEFCO Carbon Fund (NeCF). The Tranche II subscription will be aimed principally at post 2012 purchases.

The NeCF was launched in April 2008, to procure high quality compliance units for obligated entities under the Kyoto Protocol and the EU Emissions Trading Scheme.

Read more
NEFCO launches NeCF Tranche II “Kyoto Plus”
[17.8.2010]
The Nordic Environment Finance Corporation (NEFCO) has launched a EUR 30 million capital raising exercise for its carbon procurement vehicle, the NEFCO Carbon Fund (NeCF). The Tranche II subscription will be aimed principally at post 2012 purchases.

Read more
Kronstadt wastewater treatment plant will be upgraded partly with NEFCO's loan. Photo: Patrik Rastenberger

St. Petersburg wastewater treatment upgrade continues
[5.8.2010]
NEFCO and the Finnish Ministry of the Environment are financing the modernization of ten small wastewater treatment plants in St. Petersburg. NEFCO has approved a loan of EUR 5 million and the Finnish Ministry of the Environment has committed EUR 1 million for the project.

The other financiers of the scheme are the Northern Dimension Environmental Programme (NDEP) and the local waterworks company Vodokanal, which is also responsible for implementing the project.

Read more
St. Petersburg wastewater treatment upgrade continues
[5.8.2010]
The Nordic Environment Finance Corporation (NEFCO) and the Finnish Ministry of the Environment are financing the modernization of ten small wastewater treatment plants in St. Petersburg. NEFCO has approved a loan of EUR 5 million and the Finnish Ministry of the Environment has committed EUR 1 million for the project.

Read more
Managing Director Magnus Rystedt surrounded by journalists in Sosnovy Bor.

NEFCO signs agreement on upgrading wastewater treatment in Sosnovy Bor
[4.8.2010]
NEFCO and the waterworks in Sosnovy Bor, Northwestern Russia, signed on Wednesday an agreement on upgrading the local wastewater treatment.

NEFCO will grant a loan of 750,000 EUR in a project, which is expected to reduce the discharges of eutrophying phosphorus by some 22 tonnes per year. This corresponds to the annual untreated discharges of wastewater from approximately 30,000 people.

Read more
NEFCO signs agreement on wastewater treatment in Sosnovy Bor
[4.8.2010]
NEFCO and the waterworks in Sosnovy Bor, Northwestern Russia, have today signed an agreement on upgrading the local wastewater treatment. NEFCO will grant a loan of 750,000 EUR in a project, which is expected to reduce the discharges of eutrophying phosphorus by some 22 tonnes per year. This corresponds to the annual untreated discharges of wastewater from approximately 30,000 people.

Read more
The Southwest wastewater treatment plant in St. Petersburg was partially financed by NDEP.

NEFCO chairs Northern Dimension Environmental Partnership
[20.7.2010]
NEFCO has assumed the chairmanship of the Northern Dimension Environmental Partnership (NDEP).

Specifically NEFCO will manage the activities of the organization’s Steering Group, which is responsible for initiating and implementing environmental development projects in the Northern Dimension Area of Northwestern Russia.

Read more

Great interest for the Nordic Climate Facility

Submitted by mikael on Fri, 02/26/2010 - 17:51.

English
News

Intro-text for frontpage:

The Nordic Climate Facility, launched in autumn 2009, has attracted great interest. The response to the first call for proposals was larger than expected. A total of 138 applications were received, of which 33 projects have been shortlisted for full proposals.

The facility supports technology and know-how exchange between the Nordic countries and low-income countries in the area of climate change.

Picture in intro-text:

Irrigation of farmland. Droughts are expected to increase in the Southern hemisphere as a result of climate change.

Body:

The call for project proposals related to two areas; water resources and energy efficiency.

The 138 proposals were almost equally divided between these two areas and targeted 24 NDF countries, of which the majority in Africa. The proposals came from all of the five Nordic countries—Denmark, Finland, Iceland, Norway and Sweden—and from various types of organisations, such as consulting companies, manufacturers and non-governmental organisations. The deadline for the proposals was 29 January.

The Nordic Climate Facility is administered in partnership between NEFCO and the Nordic Development Fund.

Learn more about the Nordic Climate Facility

Harro Pitkänen and Gabriella Lindholm at the World Water Week in Stockholm. Photo: Kyra Koponen

”It is time to implement the Baltic Sea Action Plan”
[8.9.2010]
Speakers at a seminar, hosted by NEFCO and NIB in Stockholm on 7 September, called for concrete projects to be identified for improving the health of the Baltic Sea.

Gabriella Lindholm, the Chairperson of the Helsinki Commission, HELCOM, emphasised the role of the financial institutions in the implementation of the Baltic Sea Action Plan.

Read more
Vodokanal's Site Manager Olga Lominoga in Kronstadt. Photo: Patrik Rastenberger

Upgrading of sewage treatment plants
[2.9.2010]
Embraced by the Gulf of Finland, Kronstadt bathes in sunlight. Several kilometres away, its cathedral is dimly silhouetted against the horizon.

The project at Kronstadt will include modernization of aeration tanks. Photo: Patrik Rastenberger
Showing off at the beach in Kronstadt. Photo: Patrik Rastenberger
Every day Kronstadt treats wastewater from 43,000 people. Photo: Patrik Rastenberger
Director Dmitry A. Karlik wants St. Petersburg removed from HELCOM's list of environmental hot spots. Photo: Patrik Rastenberger
Into the future at full swing in Kronstadt. Photo: Patrik Rastenberger

Read more
MP Christina Gestrin, Photo: Nordic Council of Ministers

Parliamentarians call for enforcement of the Baltic Sea Action Plan
[30.8.2010]
The Chair of the Baltic Sea Parliamentary Conference, MP Christina Gestrin from Finland, urges all countries bordering the Baltic Sea to have their national action plans for the marine environment ready by the beginning of 2011.

The demand was put forward at the Baltic Sea Parliamentary Conference in Mariehamn, Åland on Monday.

Read more
Combating climate change. NeCF has placed EUR 100 million in renewable energy. Photo: Patrik Rastenberger

NEFCO launches second tranche for its carbon fund NeCF
[17.8.2010]
NEFCO has launched a EUR 30 million capital raising exercise for its carbon procurement vehicle, the NEFCO Carbon Fund (NeCF). The Tranche II subscription will be aimed principally at post 2012 purchases.

The NeCF was launched in April 2008, to procure high quality compliance units for obligated entities under the Kyoto Protocol and the EU Emissions Trading Scheme.

Read more
NEFCO launches NeCF Tranche II “Kyoto Plus”
[17.8.2010]
The Nordic Environment Finance Corporation (NEFCO) has launched a EUR 30 million capital raising exercise for its carbon procurement vehicle, the NEFCO Carbon Fund (NeCF). The Tranche II subscription will be aimed principally at post 2012 purchases.

Read more
Kronstadt wastewater treatment plant will be upgraded partly with NEFCO's loan. Photo: Patrik Rastenberger

St. Petersburg wastewater treatment upgrade continues
[5.8.2010]
NEFCO and the Finnish Ministry of the Environment are financing the modernization of ten small wastewater treatment plants in St. Petersburg. NEFCO has approved a loan of EUR 5 million and the Finnish Ministry of the Environment has committed EUR 1 million for the project.

The other financiers of the scheme are the Northern Dimension Environmental Programme (NDEP) and the local waterworks company Vodokanal, which is also responsible for implementing the project.

Read more
St. Petersburg wastewater treatment upgrade continues
[5.8.2010]
The Nordic Environment Finance Corporation (NEFCO) and the Finnish Ministry of the Environment are financing the modernization of ten small wastewater treatment plants in St. Petersburg. NEFCO has approved a loan of EUR 5 million and the Finnish Ministry of the Environment has committed EUR 1 million for the project.

Read more
Managing Director Magnus Rystedt surrounded by journalists in Sosnovy Bor.

NEFCO signs agreement on upgrading wastewater treatment in Sosnovy Bor
[4.8.2010]
NEFCO and the waterworks in Sosnovy Bor, Northwestern Russia, signed on Wednesday an agreement on upgrading the local wastewater treatment.

NEFCO will grant a loan of 750,000 EUR in a project, which is expected to reduce the discharges of eutrophying phosphorus by some 22 tonnes per year. This corresponds to the annual untreated discharges of wastewater from approximately 30,000 people.

Read more
NEFCO signs agreement on wastewater treatment in Sosnovy Bor
[4.8.2010]
NEFCO and the waterworks in Sosnovy Bor, Northwestern Russia, have today signed an agreement on upgrading the local wastewater treatment. NEFCO will grant a loan of 750,000 EUR in a project, which is expected to reduce the discharges of eutrophying phosphorus by some 22 tonnes per year. This corresponds to the annual untreated discharges of wastewater from approximately 30,000 people.

Read more
The Southwest wastewater treatment plant in St. Petersburg was partially financed by NDEP.

NEFCO chairs Northern Dimension Environmental Partnership
[20.7.2010]
NEFCO has assumed the chairmanship of the Northern Dimension Environmental Partnership (NDEP).

Specifically NEFCO will manage the activities of the organization’s Steering Group, which is responsible for initiating and implementing environmental development projects in the Northern Dimension Area of Northwestern Russia.

Read more

NEFCO grants cleaner production loan for Ukrainian margarine factory

Submitted by mikael on Mon, 02/01/2010 - 18:17.

English
News

Intro-text for frontpage:

NEFCO has granted a new loan worth EUR 350,000 for financing cleaner production technology at OJSC Kiev Margarine Factory in Ukraine.

The loan, which will be disbursed from the corporation’s Facility for Cleaner Production, is intended to refurbish the factory’s production line for edible fats and oils and reduce energy consumption by some 60,000 kWh per year.

Picture in intro-text:

The head office of OJSC Kiev Margarine in Ukraine. Photo: Thorhallur Thorsteinsson

Body:

As part of the refurbishment process, the factory’s heat exchange system will be upgraded by, among other things, installing more efficient plate heat exchangers, pumps and process sequence controls.

OJSC Kiev Margarine Factory is an open joint-stock company that produces margarine, refined oils, mayonnaise, vegetable oils and fats as well as food fats, mainly for the domestic market. The company’s turnover in 2008 was EUR 37 million.

The entire project is expected to reduce carbon dioxide emissions by 240 tonnes a year. The factory refurbishment process will also contribute to minor reductions of sulphur oxides, nitrogen oxides and particulates.

The Facility for Cleaner Production was established in 1997 to promote technological investments in industrial projects in order to curb the emission of harmful substances into the environment. The facility can finance up to EUR 350,000 or 90 per cent of the investment cost for such projects in the form of subsidized loans.

Since the establishment of the facility, NEFCO has granted loans worth EUR 15.8 million for 69 projects. The facility’s current geographical focus is mainly on Russia and Ukraine.

Because of the increased demand from existing as well as new clients for its services, in September last year NEFCO’s Board of Directors decided to allocate an additional EUR 4 million to the facility.

Read the article above in Russian

Learn more about the Facility for Cleaner Production

Harro Pitkänen and Gabriella Lindholm at the World Water Week in Stockholm. Photo: Kyra Koponen

”It is time to implement the Baltic Sea Action Plan”
[8.9.2010]
Speakers at a seminar, hosted by NEFCO and NIB in Stockholm on 7 September, called for concrete projects to be identified for improving the health of the Baltic Sea.

Gabriella Lindholm, the Chairperson of the Helsinki Commission, HELCOM, emphasised the role of the financial institutions in the implementation of the Baltic Sea Action Plan.

Read more
Vodokanal's Site Manager Olga Lominoga in Kronstadt. Photo: Patrik Rastenberger

Upgrading of sewage treatment plants
[2.9.2010]
Embraced by the Gulf of Finland, Kronstadt bathes in sunlight. Several kilometres away, its cathedral is dimly silhouetted against the horizon.

The project at Kronstadt will include modernization of aeration tanks. Photo: Patrik Rastenberger
Showing off at the beach in Kronstadt. Photo: Patrik Rastenberger
Every day Kronstadt treats wastewater from 43,000 people. Photo: Patrik Rastenberger
Director Dmitry A. Karlik wants St. Petersburg removed from HELCOM's list of environmental hot spots. Photo: Patrik Rastenberger
Into the future at full swing in Kronstadt. Photo: Patrik Rastenberger

Read more
MP Christina Gestrin, Photo: Nordic Council of Ministers

Parliamentarians call for enforcement of the Baltic Sea Action Plan
[30.8.2010]
The Chair of the Baltic Sea Parliamentary Conference, MP Christina Gestrin from Finland, urges all countries bordering the Baltic Sea to have their national action plans for the marine environment ready by the beginning of 2011.

The demand was put forward at the Baltic Sea Parliamentary Conference in Mariehamn, Åland on Monday.

Read more
Combating climate change. NeCF has placed EUR 100 million in renewable energy. Photo: Patrik Rastenberger

NEFCO launches second tranche for its carbon fund NeCF
[17.8.2010]
NEFCO has launched a EUR 30 million capital raising exercise for its carbon procurement vehicle, the NEFCO Carbon Fund (NeCF). The Tranche II subscription will be aimed principally at post 2012 purchases.

The NeCF was launched in April 2008, to procure high quality compliance units for obligated entities under the Kyoto Protocol and the EU Emissions Trading Scheme.

Read more
NEFCO launches NeCF Tranche II “Kyoto Plus”
[17.8.2010]
The Nordic Environment Finance Corporation (NEFCO) has launched a EUR 30 million capital raising exercise for its carbon procurement vehicle, the NEFCO Carbon Fund (NeCF). The Tranche II subscription will be aimed principally at post 2012 purchases.

Read more
Kronstadt wastewater treatment plant will be upgraded partly with NEFCO's loan. Photo: Patrik Rastenberger

St. Petersburg wastewater treatment upgrade continues
[5.8.2010]
NEFCO and the Finnish Ministry of the Environment are financing the modernization of ten small wastewater treatment plants in St. Petersburg. NEFCO has approved a loan of EUR 5 million and the Finnish Ministry of the Environment has committed EUR 1 million for the project.

The other financiers of the scheme are the Northern Dimension Environmental Programme (NDEP) and the local waterworks company Vodokanal, which is also responsible for implementing the project.

Read more
St. Petersburg wastewater treatment upgrade continues
[5.8.2010]
The Nordic Environment Finance Corporation (NEFCO) and the Finnish Ministry of the Environment are financing the modernization of ten small wastewater treatment plants in St. Petersburg. NEFCO has approved a loan of EUR 5 million and the Finnish Ministry of the Environment has committed EUR 1 million for the project.

Read more
Managing Director Magnus Rystedt surrounded by journalists in Sosnovy Bor.

NEFCO signs agreement on upgrading wastewater treatment in Sosnovy Bor
[4.8.2010]
NEFCO and the waterworks in Sosnovy Bor, Northwestern Russia, signed on Wednesday an agreement on upgrading the local wastewater treatment.

NEFCO will grant a loan of 750,000 EUR in a project, which is expected to reduce the discharges of eutrophying phosphorus by some 22 tonnes per year. This corresponds to the annual untreated discharges of wastewater from approximately 30,000 people.

Read more
NEFCO signs agreement on wastewater treatment in Sosnovy Bor
[4.8.2010]
NEFCO and the waterworks in Sosnovy Bor, Northwestern Russia, have today signed an agreement on upgrading the local wastewater treatment. NEFCO will grant a loan of 750,000 EUR in a project, which is expected to reduce the discharges of eutrophying phosphorus by some 22 tonnes per year. This corresponds to the annual untreated discharges of wastewater from approximately 30,000 people.

Read more
The Southwest wastewater treatment plant in St. Petersburg was partially financed by NDEP.

NEFCO chairs Northern Dimension Environmental Partnership
[20.7.2010]
NEFCO has assumed the chairmanship of the Northern Dimension Environmental Partnership (NDEP).

Specifically NEFCO will manage the activities of the organization’s Steering Group, which is responsible for initiating and implementing environmental development projects in the Northern Dimension Area of Northwestern Russia.

Read more

NEFCO supports energy efficiency investment in Ukrainian steel sector through Joint Implementation transaction

Submitted by mikael on Fri, 01/15/2010 - 10:00.

Intro-text for frontpage:

The Nordic Environment Finance Corporation (NEFCO) managed Baltic Sea Region Testing Ground Facility (TGF) has procured emission reduction units from an industrial energy efficiency project in eastern Ukraine under the Joint Implementation mechanism of the Kyoto Protocol. The TGF buys carbon credits on behalf of its investors, thus helping governments and companies to meet greenhouse gas emission reduction targets under the Kyoto Protocol and the EU Emissions Trading Scheme.

Body:

The first Ukrainian TGF project reduces natural gas and electricity consumption through the recovery of waste heat in a coke plant in Alchevsk city, Luhansk region of eastern Ukraine. This is one of the largest industrial enterprises in the Donbass region.

The project consists of captive cogeneration with waste heat recovery at Alchevsk Coke Plant (OJSC Alchevskkoks) to displace the use of natural gas and (30 GWh p.a. of) grid electricity. The project entails installation of a waste heat recovery system, a highly efficient boiler firing coke oven gas (COG) and blast furnace gas (BFG) and a 9 MW turbine generator connected to the boiler, generating up to 54 GWh p.a. of net electricity. In total, the project is expected to reduce carbon dioxide emissions by over 1.1 million tonnes of carbon dioxide equivalent during 2008-12. These will result in Emission Reduction Units (ERUs), which will be procured by the TGF.

The project has been developed as a JI project by the Japanese Sumitomo Corporation which also has extensive international experience in the deployment of the project technology.
“We are pleased to conclude our first major Joint Implementation project in Ukraine, working with Ukrainian and Japanese partners to introduce low emission energy generation technology into this important industrial sector” stated Ash Sharma, Head of Carbon Finance and Funds at NEFCO.

The JI project has received a determination report from accredited entity Bureau Veritas Certification and Letter of Approvals from the Designated Focal Points of Japan (September 2009) and Ukraine (December 2009). The project is presented for final determination under the Ukrainian Track 1 of the JI mechanism.

The TGF has been active since 2004 in the Joint Implementation segment of the Kyoto market, with an emphasis on Russian Federation, the Baltic countries and since 2006, in Ukraine. Its focus has been renewable energy and energy efficiency. The EUR 35 million facility has now ceased its active procurement, and is in now in the portfolio management phase.

The transaction was arranged by CF Partners.

Information for Editors:
NEFCO is an international finance institution owned 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 interests to the Nordic region. Since 2004, it has been the Fund Manager of the Baltic Sea Region Testing Ground Facility (TGF) and in April 2008, it established the NEFCO Carbon Fund (NeCF).

In total, NEFCO's Carbon Finance and Funds team has approximately EUR 121.60 million of assets under management (AUM) and financial resources of up to EUR 135 million The CFF investor community now includes the five Nordic governments, Germany and 10 private companies. The TGF is a public-private partnership that is directed at both private investors who have obligations under the EU Emission Trading Scheme (EU ETS) and sovereign investors who have greenhouse gas emission targets under the Kyoto Protocol. The NeCF buys carbon credits from UN-approved emission reduction projects around the world on behalf of its investors. Investors can use these credits towards their international commitments.

For Further Information, please contact:
Ash Sharma, Senior Investment Manager, Head of Carbon Finance and Funds, NEFCO, tel. +358 400 811 327, e-mail: ash.sharma@nefco.fi
Ms Ruiko Kato, Manager, Sumitomo Corporation, e-mail: ruiko.kato@sumitomocorp.co.jp
Vasyl Viovchak, Director, Institute of Environment and Energy Conservation (representative of Alchevsk Coke Plant), e-mail: vovchak@ippe.org.ua
Hanna-Mari Ahonen, Project Manager, NEFCO, tel. +358 50 302 0370, e-mail: hanna-mari.ahonen@nefco.fi
Mikael Sjövall, Communications Manager, NEFCO, tel. +358 50 3535 045, e-mail: mikael.sjovall@nefco.fi

Harro Pitkänen and Gabriella Lindholm at the World Water Week in Stockholm. Photo: Kyra Koponen

”It is time to implement the Baltic Sea Action Plan”
[8.9.2010]
Speakers at a seminar, hosted by NEFCO and NIB in Stockholm on 7 September, called for concrete projects to be identified for improving the health of the Baltic Sea.

Gabriella Lindholm, the Chairperson of the Helsinki Commission, HELCOM, emphasised the role of the financial institutions in the implementation of the Baltic Sea Action Plan.

Read more
Vodokanal's Site Manager Olga Lominoga in Kronstadt. Photo: Patrik Rastenberger

Upgrading of sewage treatment plants
[2.9.2010]
Embraced by the Gulf of Finland, Kronstadt bathes in sunlight. Several kilometres away, its cathedral is dimly silhouetted against the horizon.

The project at Kronstadt will include modernization of aeration tanks. Photo: Patrik Rastenberger
Showing off at the beach in Kronstadt. Photo: Patrik Rastenberger
Every day Kronstadt treats wastewater from 43,000 people. Photo: Patrik Rastenberger
Director Dmitry A. Karlik wants St. Petersburg removed from HELCOM's list of environmental hot spots. Photo: Patrik Rastenberger
Into the future at full swing in Kronstadt. Photo: Patrik Rastenberger

Read more
MP Christina Gestrin, Photo: Nordic Council of Ministers

Parliamentarians call for enforcement of the Baltic Sea Action Plan
[30.8.2010]
The Chair of the Baltic Sea Parliamentary Conference, MP Christina Gestrin from Finland, urges all countries bordering the Baltic Sea to have their national action plans for the marine environment ready by the beginning of 2011.

The demand was put forward at the Baltic Sea Parliamentary Conference in Mariehamn, Åland on Monday.

Read more
Combating climate change. NeCF has placed EUR 100 million in renewable energy. Photo: Patrik Rastenberger

NEFCO launches second tranche for its carbon fund NeCF
[17.8.2010]
NEFCO has launched a EUR 30 million capital raising exercise for its carbon procurement vehicle, the NEFCO Carbon Fund (NeCF). The Tranche II subscription will be aimed principally at post 2012 purchases.

The NeCF was launched in April 2008, to procure high quality compliance units for obligated entities under the Kyoto Protocol and the EU Emissions Trading Scheme.

Read more
NEFCO launches NeCF Tranche II “Kyoto Plus”
[17.8.2010]
The Nordic Environment Finance Corporation (NEFCO) has launched a EUR 30 million capital raising exercise for its carbon procurement vehicle, the NEFCO Carbon Fund (NeCF). The Tranche II subscription will be aimed principally at post 2012 purchases.

Read more
Kronstadt wastewater treatment plant will be upgraded partly with NEFCO's loan. Photo: Patrik Rastenberger

St. Petersburg wastewater treatment upgrade continues
[5.8.2010]
NEFCO and the Finnish Ministry of the Environment are financing the modernization of ten small wastewater treatment plants in St. Petersburg. NEFCO has approved a loan of EUR 5 million and the Finnish Ministry of the Environment has committed EUR 1 million for the project.

The other financiers of the scheme are the Northern Dimension Environmental Programme (NDEP) and the local waterworks company Vodokanal, which is also responsible for implementing the project.

Read more
St. Petersburg wastewater treatment upgrade continues
[5.8.2010]
The Nordic Environment Finance Corporation (NEFCO) and the Finnish Ministry of the Environment are financing the modernization of ten small wastewater treatment plants in St. Petersburg. NEFCO has approved a loan of EUR 5 million and the Finnish Ministry of the Environment has committed EUR 1 million for the project.

Read more
Managing Director Magnus Rystedt surrounded by journalists in Sosnovy Bor.

NEFCO signs agreement on upgrading wastewater treatment in Sosnovy Bor
[4.8.2010]
NEFCO and the waterworks in Sosnovy Bor, Northwestern Russia, signed on Wednesday an agreement on upgrading the local wastewater treatment.

NEFCO will grant a loan of 750,000 EUR in a project, which is expected to reduce the discharges of eutrophying phosphorus by some 22 tonnes per year. This corresponds to the annual untreated discharges of wastewater from approximately 30,000 people.

Read more
NEFCO signs agreement on wastewater treatment in Sosnovy Bor
[4.8.2010]
NEFCO and the waterworks in Sosnovy Bor, Northwestern Russia, have today signed an agreement on upgrading the local wastewater treatment. NEFCO will grant a loan of 750,000 EUR in a project, which is expected to reduce the discharges of eutrophying phosphorus by some 22 tonnes per year. This corresponds to the annual untreated discharges of wastewater from approximately 30,000 people.

Read more
The Southwest wastewater treatment plant in St. Petersburg was partially financed by NDEP.

NEFCO chairs Northern Dimension Environmental Partnership
[20.7.2010]
NEFCO has assumed the chairmanship of the Northern Dimension Environmental Partnership (NDEP).

Specifically NEFCO will manage the activities of the organization’s Steering Group, which is responsible for initiating and implementing environmental development projects in the Northern Dimension Area of Northwestern Russia.

Read more

Two more NEFCO projects approved under the Kyoto Protocol

Submitted by mikael on Thu, 01/14/2010 - 12:21.

English
News

Intro-text for frontpage:

Two NEFCO projects in Estonia and Lithuania have qualified as Joint Implementation (JI) projects under the Kyoto Protocol. A landfill gas-to-energy project in Lithuania reached final JI status under the UN-regulated international track (Track 2).

As of January 2010, only sixteen projects worldwide have secured final JI status under Track 2, including three NEFCO projects. In addition, NEFCO’s wind farm project was the sixth JI project to achieve final JI status through Estonia’s national track (Track 1).

Picture in intro-text:

Erecting a wind mill in Estonia. Photo: Nelja Energia

Body:

The wind farm project in Viru Nigula, on the north coast of Estonia, provides electricity for some 6,000 Estonian households. The wind power replaces the use of oil shale, which is the most important source of energy in Estonia. The project is expected to reduce carbon dioxide emissions by some 380,000 tonnes by 2012. NEFCO is buying the Emission Reduction Units from this project together with the Swedish Energy Agency (STEM).

The Lithuanian JI project turns landfill gas collected from the Lapes landfill into heat and electricity for the nearby city of Kaunas. The project mitigates global climate change in two ways: firstly by trapping methane that would otherwise be released into the atmosphere at the landfill, and secondly by displacing fossil fuel-based heat and power generation and avoiding associated carbon dioxide emissions. In total, the Lapes project is expected to reduce greenhouse gas emissions by some 150,000 tonnes of carbon dioxide equivalent during the five-year period 2008-2012. The combined heat and power plant was inaugurated in October 2008.

“We are pleased to finally secure the registration of these environmentally beneficial, sustainable energy projects, both of which NEFCO has supported through its longstanding relationships with the respective project developers", says Ash Sharma, Head of Carbon Finance and Funds at NEFCO.

Joint Implementation enables project activities that reduce greenhouse gas emissions to earn tradable Emission Reduction Units (ERUs) against independently verified emission reductions, thus offering additional revenue to climate-friendly projects. Projects can use either the international Track 2 or national Track 1 verification procedures to achieve JI status.

NEFCO buys ERUs from JI projects via its carbon fund, the Baltic Sea Region Testing Ground Facility (TGF). TGF investors include the Nordic States and Germany as well as several Nordic and German companies who can use ERUs to comply with emission targets under the Kyoto Protocol and the EU Emissions Trading Scheme.

The TGF has been active in the JI market since 2004, with an emphasis on Russian Federation, the Baltic countries and since 2006, Ukraine. Its focus has been renewable energy and energy efficiency. The 35-million euro facility has now ceased its active procurement and it is now in the portfolio management phase. NEFCO also manages the global 100-million euro NEFCO Carbon Fund (NeCF).

Read the article above in Russian

Learn more about carbon financing

Северная экологическая финансовая корпорация

English

”It is time to implement the Baltic Sea Action Plan”

NEFCO and Neste Jacobs to cooperate on oil offloading ventures

NEFCO invests in paint factory in Ukraine

TGF takes stock of five years of pioneering work in Joint Implementation

NEFCO’s carbon funds expanded in volume and scope in 2009

NEFCO’s 2009 financial accounts show encouraging environmental benefits

Great interest for the Nordic Climate Facility

NEFCO grants cleaner production loan for Ukrainian margarine factory

NEFCO supports energy efficiency investment in Ukrainian steel sector through Joint Implementation transaction

Two more NEFCO projects approved under the Kyoto Protocol

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