The Nordic Investment Bank (NIB) has issued a EUR 25 million (USD 26.9 million) loan to Skarta Energy Oy for the development of two solar power plants in Finland, totaling a capacity of approximately 108 MWp.
These projects, situated in Utajarvi, Northern Ostrobothnia, and Palkane in Pirkanmaa, will contribute around 99 GWh of renewable electricity annually once operational.
The Utajarvi site, currently under construction, is projected to deliver 94 GWh of clean power annually, sufficient to supply around 16,000 households. The smaller Palkane solar farm will add up to 5 MWp, expected to generate 4.9 GWh per year.
This financing, structured over four years, is backed by the EU's InvestEU program as part of NIB's commitment to clean energy initiatives.
Skarta Energy, owned by private asset management company CapMan, aims to develop a portfolio reaching 800 MWp in solar capacity by 2028.
