EIB provides additional EUR 75.1m loan to build low-energy houses in Stockholm

Now, the EIB’s trust in the company is renewed, via a larger investment, as SKB and the EIB have agreed on a loan of SEK 800 million (circa EUR 75.1 million) to build energy-efficient residential properties in Kista and Södermalm in Stockholm.

The European Investment Bank, EIB, is one of the world's biggest players when it comes to financing the sustainable transition. In 2017, as the first Swedish housing company ever, SKB received an EIB loan worth SEK 550 million (circa €57.8 million). Now, the EIB’s trust in the company is renewed, via a larger investment, as SKB and the EIB have agreed on a loan of SEK 800 million (circa EUR 75.1 million) to build energy-efficient residential properties in Kista and Södermalm in Stockholm.

The EIB Vice President, Thomas Östros, commented: “EIB’s commitment to being the European Union’s climate bank and the focus on energy efficiency in housing efforts is particularly important right now. The demand for energy efficient solutions has become more prominent after the Russian invasion of Ukraine. We are therefore pleased to support energy efficient buildings and markets in this field, thereby raising the bar for new, more climate friendly building standards.”

Keeping pace in a competitive industry

Industry CEO of SKB, Ingrid Gyllfors, said: “We are proud that the EIB is placing a renewed trust in us from the EIB, which shows that we are seen as a player driving sustainable transition. At a time when construction and development projects are grinding to a halt, as the industry is under pressure from rising material and energy prices, this means that we can help to keep up the pace with through our energy efficient projects.”

Energy consumption below requirements

This loan will finance the construction of energy-efficient residential properties in two of SKB's new property projects in Stockholm. One situated in the central part of the city with 153 apartments, and one in Kista, with 164 apartments. Energy consumption in the properties will be below 55kWh per m² per year, which is approximately 25 % below the Swedish authorities’ requirements.

In 2021, the EIB invested more than €200 millions in loans to Swedish low-energy projects concerning public, commercial and residential properties.