NIB co-finances new electric buses for the Greater Helsinki, Oulu, and Turku regions

The Nordic Investment Bank (NIB) has joined the financing for 60 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.

The new electric busses will replace diesel buses. The project is expected to result in substantial emission reductions of approximately 8,300 tonnes of carbon dioxide per year and 42 tonnes of nitrogen oxides per 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.

In 2023, NIB contributed to the financing of Nobina’s acquisition of 100 electric buses for use in the Greater Helsinki region.

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.

NIB is an international 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. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s. Read more at www.nib.int

For further information, please contact
Tore Emanuelsson, Senior Banker, at +358 10 618 0244, Tore.Emanuelsson@nib.int

Iiris Anttalainen, Communications, at +358 10 618 0258, Iiris.Anttalainen@nib.int