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NIB Invests in Finnish Biomass Development

Thebioenergysite.com, January 31st

The Nordic Investment Bank (NIB) has provided bioenergy company Vaskiluodon Voima Oy with €18 million to build a gasification plant in Vaasa, Finland

The facility will produce 140MW and is to be connected to a power plant that is already established, allowing for the coal from the old plant to be substituted by domestic biofuels and peat.
Because of this, coal use will be lowered by between 25-40 per cent, with a fuel mix for the gasification system that will be made up of about 25 per cent peat and 75 per cent forest residues and biomaterials such as reed.
The biomass will be sourced from under a 100km radius from the plant. However, the investment will not increase how much energy the plant produces, merely make its energy production greener.
Even so, it is the first plant of its size to be built in Finland and the development has also received a grant from the Ministry of Employment and Economy because the technology being used has been deemed innovative.
- The Vaskiluodon Voima project combines energy production with an innovative new technology developed in Finland, allowing NIB to finance a project that brings together two core sectors of its activities, says Johnny Åkerholm, NIB president.