The FINANCIAL — NIB is launching a EUR 10 million loan programme with Finland’s mortgage lending institution Suomen Hypoteekkiyhdistys (Hypo) to finance improvements to the environmental efficiency of residential buildings.
The lending facility is targeted at housing companies and private individuals carrying out renovation projects aimed at improving the energy efficiency of Finnish households. Eligible projects include improvements to the insulation and ventilation of houses, as well as the installation of heat pumps, ground heat systems and solar panels. Adding renewable energy solutions to residential buildings is expected to reduce greenhouse gas emissions and to regulate electricity price developments in times of peak demand, according to NIB.
This is already the third loan facility NIB has provided to Suomen Hypoteekkiyhdistys for onlending to housing companies and households. The two earlier ones were commissioned in 2010 and 2013, with a combined amount of EUR 19 million earmarked for energy efficiency projects.
“The loan programme continues the good cooperation between NIB and Suomen Hypoteekkiyhdistys, and allows us to reach out to individual households and apartment buildings to contribute to cutting greenhouse gas emissions through crowding out fossil-based energy generation”, says Henrik Normann, NIB President & CEO.
Suomen Hypoteekkiyhdistys (Hypo) is a private credit institution providing mortgage and consumer loans. Headquartered in Helsinki, Hypo currently has around 25,000 customers.