Finland. Nobina AB
| Date of agreement: | 14 Jun 2024 |
|---|---|
| Country: | Finland |
| Customer: | Nobina AB |
| Amount in EUR: | EUR 13.2 million |
| Maturity: | 6.5 years |
This loan contributes to climate change mitigation: 100%
Financing from NIB Environmental Bond proceeds
NEB-eligible share: 100%
NEB category: Clean transportation
Amount disbursed: EUR 0.5 million
Note: For loans in other currencies than EUR, the equivalent in EUR is based on the exchange rate effective for the disbursement. Read more about the NIB Environmental Bonds
Project
The Nordic Investment Bank (NIB) has joined the financing for new electric busses to be operated by Nobina in the Greater Oulu, Greater Turku, and Greater Helsinki regions. NIB will fund EUR 13.2 million of the total project.
The 6.5-year loan will co-finance the deployment of new electric buses for Nobina’s operations in Finland. The project involves deploying 60 new electric buses, scheduled for delivery in summer and autumn 2024.
Nobina AB is the largest privately owned bus operator in the Nordics, with a fleet of approximately 4,000 buses operating in the four largest Nordic markets, and approximately 13,000 employees. Every day, approximately 1 million passengers travel on Nobina’s buses.
Fulfilment of NIB's mandate
Productivity:
The investments increase the electric vehicle fleet of the company with roughly 60 buses to match the tenders the company has won in Turku and Oulu region.
The investment in these 60 electric buses into Nobina’s fleet is expected to result in decreased operational costs due to savings on fuel expenses. Nobina’s primary objective is to provide passengers with reliable and punctual bus connections, and to ensure this, the company has taken on the responsibility of servicing and maintaining the electric buses.
Environment:
The investment to Nobina includes the purchase of 60 electric busses to be operated in Oulu, Turku, and Helsinki. The electric busses will replace diesel buses. The estimated emission reduction from switching from diesel to electric buses is approximately 8300 tCO2/year and 42 tNOx/year.
The project is eligible to be financed through NIB Environmental Bonds proceeds. In addition, the electric buses meet the substantial contribution criteria under the EU Taxonomy.
Sustainability summary
No significant sustainability risks have been identified in relation with the project.
