NEFCO -En katalysator för grön utveckling i Nordvästryssland. Ulf Bojö Senior Investment Manager, NEFCO NetPort, Karlshamn, 31 januari 2013

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1 NEFCO -En katalysator för grön utveckling i Nordvästryssland Ulf Bojö Senior Investment Manager, NEFCO NetPort, Karlshamn, 31 januari 2013

2 Miljöproblem är en resurs som väntar på att utnyttjas kommersiellt Exempel på många problem som lösts till stora delar under de senaste årtiondena: Svavelutsläpp Blekning o andra problem vid framställning av massa och papper Återvinning av metaller Rening av avloppsvatten Idag är alla ovannämnda processer en del av vardagen och har tusentals anställda från produktion till drift och underhåll.

3 Nuvarande och kommande utmaningar Övergödningen av Östersjön, kommunala avlopp och industrier. Jordbruket växande hot e g nya svinfarmer i Polen, 20 miljoner kycklingar och höns utanför Petersburg. Fosforbrist om 20 år? Smutsig fossil energi

4 Lösningar Övergödningen minskas e g genom att fosfor återvinns ur: Gödsel och kommunala avlopp Fiske av eutrofieringsgynnade fiskarter Pyrolys = ett ämne hettas upp till grader och sönderfaller syrefritt. Gas, olja och kol bildas. N och P i biokol stannar i marken i hundratals år. Minskad avrinning från jordbruket, sänker jordbrukets kostnader Kor i Tyskland får 60 kg biokol/år minskar sjukdomar och binder närsalter i gödseln. Fosforbristen - I Östersjöns syrefria bottnar finns ton fosfor brytning? Fossila bränsleberoendet El troligen framtidens energibärare för transport men el måste lagras t ex i form av väte. Väte kan produceras lokalt. Väte finns överallt. När tekniken är kostnadseffektiv och beprövad då kan NEFCO finansiera..

5 NEFCO in brief International financial institution established by the Nordic countries Loans and equity investments for environmental projects Funds to a total value of EUR 540 million Headquartered in Helsinki with 31 employees Locally contracted consultants in Russia and Ukraine Helsinki Geographic mandate

6 Criteria for NEFCO financed projects The project has to be implemented within NEFCO s geographic mandate The project has to deliver measurable reductions of environmentally harmful emissions Only financially viable, bankable investments Tested technology must be applied The project financed by NEFCO has to be environmentally cost efficient and contain a Nordic interest

7 NEFCO's Investment Fund finances e g : Environmental services; wastewater treatment and waste management Modernisation of industrial production processes; transfer of modern technology Production of equipment for pollution abatement Renewable energy, wind power, landfill gas. Energy efficiency.

8 Terms for loans from the Investment Fund NEFCO can participate with equity and/or loans Exposure up to EUR 5,000,000 NEFCO's equity contribution can be up to 33% of the total equity Total NEFCO finance (equity + loans) up to 50% of the total project cost The terms for loans are negotiated in each case. Maturity up to 10 years Exit for equity investments after 5-7 years. Exit terms are negotiated up front

9 Cleaner Production facility For private or municipal company with existing operations Maximum loan amount EUR 350,000 NEFCO can finance up to 90% of total project cost Payback period up to 4 years Fixed interest rate of 6% EURO 9% RUB Security required: 125% of the loan amount Guarantee (e.g. bank, parent company, municipal); Pledge in equipment Repayment starting after project completion Tied to the savings generated by the project Equal quarterly instalments Standard Loan Agreement documentation Competitive procurement of goods, works and services financed shall be open and fair

10 Energy Saving Credits Social Sector Borrower: municipality or municipal company Maximum loan amount RUB NEFCO can finance up to 90% of total project cost Loans through a Russian bank (Raiffeisen) Payback of the investment 4 years Fixed interest rate of 3% (RUB) per annum Security required: Municipal guarantee Tied to the savings generated by the project Municipal procurement rules.

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12 NEFCO lite historik 2000 NEFCO has financed 122 projects in Eastern Europe 2003 Baltic Sea Region Testing Ground Facility is established 2004 Ukraine becomes a new priority country for NEFCO 2007 First project approved in Belarus 2008 NEFCO Carbon Fund established 2009 Nordic Climate Facility and BSAP Fund established 2010 NEFCO has financed over 400 projects

13 Baltic Sea Background: The countries have agreed on emission caps. Reduction demands: -40% P, -18 % N by year 2021 Intensified agriculture in Eastern Europe NEFCO s participation: Actively cooperating with HELCOM Financing wastewater treatment plants Small scale credits to agriculture Development of projects related to manure management Jointly with NIB manage the BSAP Fund (Swedish and Finnish funds) Participation in the Northern Dimension Environmental Partnership (NDEP)

14 Arctic/Barents Background: Climate change Exploration of natural resources Division of land Increased transportation Sink of toxins NEFCO s participation: Observer in the Arctic Council (AC) Active in the environmental and energy programmes of the Barents Euro- Arctic Council (BEAC). Active in the AC environmental programmes (ACAP) Manager of the AC project fund (PSI) Manager of BHSF

15 Climate Background: EU will reduce emission with 20% until 2020 (can increase to 30%). Norway to become carbon neutral by 2050 Iceland intends to reduce with 50-75% by 2050 EU Trading System(ETS). Uncertainties on condition post NEFCO s participation: Investments in energy efficiency and renewable energy Manages two carbon funds (total 150 million) Cooperation with NDF on Nordic Climate Facility. Active in the Nordic work related to climate change

16 Hazardous substances/waste Background: Outside of the EU not much has been done. Legislation exists, but implementation lacks. Infrastructure need to be developed both with regard to hazardous waste, as well as, solid waste. NEFCO s participation: Investments in waste management Manages the Nordic Environment Development Facility (NMF) that provide funds for institutional programmes and investments. Indirectly though NEFCO s small credit facility Cleaner Production. The work carried out with the Arctic and Barents Councils, and NDEP.

17 Nordic knowledge Background: Nordic technology and knowledge has high international standing Nordic countries and companies service often as a good example in the environmental field Nordic participation often reduces the environmental load NEFCO s participation: Reduces the risk through; i) use of risk capital/financing, ii) expertise within environment, law and financing, iii) local knowledge and contacts. Emission trading Cooperation with Nopef and national export agencies.

18 NIB The Nordic Investment Bank

19 Mission and mandate NIB promotes sustainable growth of its member countries by providing long-term complementary financing to projects that strengthen competitiveness projects that enhance the environment

20 Regional focus EU Strategy for the Baltic Sea Region Northern Dimension Environmental Partnership (NDEP) Northern Dimension Partnership on Transport and Logistics Eastern Europe Energy Efficiency and Environment Program Several trust funds for supporting project development and making projects bankable

21 Long-term lending instruments Corporate loans, 5 15 years Financing via financial intermediaries, 5 12 years Sovereign loans to states or against state guarantee, years Loans directly to municipalities, years PPP financing, 5 15 years NORDIC INVESTMENT BANK

22 Tack för mig! Ulf Bojö NEFCO Tel: