Sweden. Vectura AB
| Date of agreement: | 04 Feb 2022 |
|---|---|
| Country: | Sweden |
| Customer: | Vectura AB |
| Amount in SEK: | SEK 500 million |
| Amount in EUR: | EUR 47.9 million |
| Maturity: | 12 years |
| NACE sector / loan type: | Construction |
This loan contributes to climate change mitigation: 100%
Financing from NIB Environmental Bond proceeds
NEB-eligible share: 100%
NEB category: Energy efficiency
Amount disbursed: EUR 46.6 million
This project has been financed with the proceeds of NEBs issued under the previous framework
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 loan has been provided to Vectura AB for the redevelopment of Bromma Hospital in Stockholm, Sweden.
The hospital was built in 1971, and its refurbishment will bring major energy savings and modern premises. The project developer aims to decrease purchased energy consumption by nearly 60% through a new ventilation system, geothermal heating and solar panels. After the renovation, the building will be Gold-certified under the LEED green building certification system.
Bromma Hospital will have a gross floor area of 30,000 square metres, and most of the premises have already been rented for elderly care and healthcare services. As a result of the renovation, the number of elderly care places will be increased by 80. Moreover, the redevelopment will establish capacity for orthopaedic surgeries and increase capacity for diagnostics and other healthcare services.
The redevelopment is expected to be completed by the first quarter of 2023. The estimated investments amount to SEK 1,200 million.
This is NIB’s second loan to Vectura AB. In 2019, the Bank financed the construction of the life-sciences dedicated Forskaren green building next to the New Karolinska University Hospital in Stockholm.
Vectura Fastigheter AB is a Swedish real estate developer focusing on the community service, office and hotel segments.
Fulfilment of NIB's mandate
Productivity:
The redevelopment Bromma Hospital will be leased to healthcare and care operators with a focus on geriatric care, rehabilitation and nursing homes. The number of nursing homes will increase by 80 due to the redevelopment. Moreover, a clinic specialising in orthopaedics will add up to 60 weekly surgical operations. This will increase surgical capacity by around 8% in the Stockholm region, also reducing the waiting time, which remains high due to COVID-19.
The new premises will add new capabilities and increase synergies and the quality of services, improving the healthcare services offering at the premises.
Environment:
The redevelopment is primarily assessed as an energy-efficient project. The building complex’s energy demand is expected to decrease by nearly 60% due to the project.
The entire 30,000-square-metre gross area will be certified in accordance with LEED Gold standard.
Solar panels will be installed on the roof, generating 137 MWh of electricity annually. In addition, 1,970 MWh of heat and 500 MWh of cooling will come from a new geothermal heat pump installation.
Impact indicators related to investments:
Productivity:
- Number of elderly care places
- Number of orthopaedic surgeries per year
Environment:
- Energy efficiency (%)
- Green building certification level and area (m2)
- Added own carbon neutral generation of electricity (MWh/a)
- Added own carbon neutral generation of thermal energy (MWh/a)
Sustainability summary
The project will not cause any significant negative environmental or social impacts.