EIB Funds Holmen with €100 Million to Boost Sweden’s Wind Energy Expansion

The wind power expansion is expected to make a significant contribution to this goal by reducing reliance on fossil fuels and supporting the ongoing electrification of heavy industries.

The European Investment Bank (EIB) has approved a loan of 1.1 billion Swedish kronor—approximately €100 million—to Sweden’s leading forest and renewable materials company, Holmen. The financing aims to accelerate the company’s expansion of onshore wind power in northern Sweden, reinforcing the nation’s renewable energy infrastructure and advancing its path toward a net-zero future.

Strengthening Sweden’s Clean Energy Network

Holmen’s investment, backed by the EIB, will help increase renewable power capacity in Sweden’s northernmost bidding zones—regions where electricity demand is surging due to the rapid growth of energy-intensive industries such as steelmaking, data centers, and battery manufacturing. The new wind installations will not only enhance regional energy security but also balance the country’s energy distribution as demand shifts northward.

The project aligns with Sweden’s national climate strategy, which aims to achieve net-zero greenhouse gas emissions by 2045. The wind power expansion is expected to make a significant contribution to this goal by reducing reliance on fossil fuels and supporting the ongoing electrification of heavy industries.

Holmen: A Pioneer in Sustainable Industry

Headquartered in Stockholm, Holmen is one of Sweden’s largest forest owners and a prominent figure in the renewable materials and energy sectors. The company’s operations span forestry, wood products, paper, paperboard, and energy. By leveraging sustainably managed forests, Holmen produces renewable and recyclable materials that serve as low-carbon alternatives to plastics, steel, and cement.

The company’s investments in renewable energy have positioned it as a vital contributor to Sweden’s transition toward a circular, bio-based economy. Its wind power operations complement its sustainable forestry practices, allowing it to harness natural resources responsibly while supporting national and EU climate objectives.

EIB’s Commitment to Europe’s Green Transition

EIB Vice-President Karl Nehammer emphasized that the financing underscores the EU bank’s broader mission to support sustainability and energy resilience across Europe. “Sweden has long been a leader in renewable energy and sustainability,” Nehammer stated. “By financing Holmen’s expansion of clean power generation, we are strengthening Europe’s energy resilience while supporting one of the country’s most sustainable industrial players. This investment shows how the green transition and industrial competitiveness can go hand in hand.”

The operation contributes to several key priorities of the EIB, including sustainable energy, natural resources management, and climate action. It is also closely aligned with the European Commission’s RePowerEU initiative, which seeks to reduce dependence on fossil fuels, enhance energy independence, and fast-track renewable power deployment across the continent.

Supporting Europe’s Energy Independence

This latest EIB investment represents a tangible step toward achieving the EU’s long-term climate and energy goals. By supporting clean energy production in northern Sweden—a region with vast wind potential—the financing will help strengthen Europe’s renewable energy capacity, reduce carbon emissions, and enhance grid stability.

Holmen’s onshore wind expansion stands as a testament to how industrial innovation and sustainability can coexist. With EIB’s backing, the company is poised to play a central role in Europe’s green transformation, ensuring that clean power continues to drive economic growth while preserving environmental integrity.