NIB is taking part in the financing of 100 new electric buses in the Greater Helsinki Region

The Nordic Investment Bank (NIB) has joined the financing for Nobina’s operations in the Greater Helsinki region, Finland. NIB will fund EUR 18.4 million of the total project representing 44% of the total arrangement.

The 5-year loan will co-finance the deployment of new electric buses for Nobina’s operations in Finland as part of their recent tender win to operate city buses in the Greater Helsinki region. This win was based on four city bus operation contracts awarded by the Helsinki Regional Transport Authority, a municipal federation responsible for the planning and organization of public transport in the Helsinki region.

The project involves the deployment of 100 new electric buses, with deliveries completed during the third and fourth quarter of 2022. Its primary objective is to provide consistent and timely bus connections, with Nobina taking responsibility for servicing and maintaining the buses. In addition, the project results in substantial emission reductions of approximately 4,850 tCO₂/year and 25 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.

“This project exemplifies how to promote sustainable and efficient transportation in a cost-effective way. NIB is committed to support similar investments in the years to come, as the demand for renewable energy continues to rise, and help Finland accelerate their transition to a low-carbon economy,” says André Küüsvek, NIB President & CEO.

Nobina AB is the largest privately owned bus operator in the Nordics, with a fleet of approximately 5,000 buses operating in the four largest Nordic markets in 2021/22, 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.

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

David Bonilla Rasmusson, Communications, at +358 50 476 3071, David.Rasmusson@nib.int