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According to the Bank’s website, the project consists of the provision of a senior secured loan of up to USD 25 million to Northvolt Systems AB, a company specialised in providing battery solutions for energy storage systems and industrial application, for the development of an industrial-scale manufacturing plant for battery solutions in Gdansk, Poland.
The objective of this project is to finance the core capex plan for the period 2024-2025, covering investments in production equipment for battery products for Energy Storage Systems ("ESS") and industrial applications.
Categorised B (2019 ESP). E&S due diligence has shown that the E&S risks and impacts associated with the project, and the battery system assembly facility at which it will be located, are limited.
The facility required the clearance of land, including a small, forested area. The facility is distant to any protected areas and no significant sensitivities were identified on site.
A senior secured loan of up to USD 25 million. The project benefits from InvestEU guarantee of 25% first-loss cover.
Northvolt Systems AB, fully owned by Northvolt AB, a leading European battery manufacturer.
Private Actor 1 | Private Actor 1 Role | Private Actor 1 Sector | Relation | Private Actor 2 | Private Actor 2 Role | Private Actor 2 Sector |
---|---|---|---|---|---|---|
- | - | - | - | NorthVolt AB | Parent Company | - |
- | - | - | - | Northvolt Systems AB | Client | - |
COMPANY CONTACT INFORMATION
Martin Stenquist
martin.stenquist@northvolt.com
https://northvolt.com/
ACCESS TO INFORMATION
You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request
ACCOUNTABILITY MECHANISM OF EBRD
The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent.
You can contact the PCM at: pcm@ebrd.com or you can submit a complaint online using an online form at: http://www.ebrd.com/eform/pcm/complaint_form?language=en
You can learn more about the PCM and how to file a complaint at: http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html