NEFCO records healthy environmental results for 2013

NEFCO implemented a range of district heating projects in 2013. Photo: Patrik Rastenberger

NEFCO’s financial accounts for 2013 show tangible environmental results as a result of comprehensive project activity during the period.

According to the Corporation’s environmental status report, the climate investments in 2013 reduced carbon dioxide emissions by some 4.7 million tonnes – a figure corresponding to the amount of carbon dioxide emitted by 14.5 million persons travelling by airplane, back and forth, from Helsinki to Brussels. NEFCO’s energy efficiency projects reduced electricity consumption by 15,110 gigawatt hours during the period. This corresponds to 18% of the annual electricity consumption in Finland.

A total of 59 new projects were approved and administered by NEFCO during the period, and the value of all funds managed by the Corporation was EUR 469 million. NEFCO also started negotiations on signing framework agreements with Georgia and Armenia aimed at starting business operations in the two countries concerned.

During the period, NEFCO signed new project agreements in the fields of renewable energy, energy efficiency, cleantech, the modernisation of industrial production facilities and wastewater treatment plants. NEFCO’s financial accounts for 2013 indicate a surplus of EUR 634,000. The financial accounts will, however, still be examined by NEFCO’s Control Committee before final approval

Carbon finance formed the mainstay of NEFCO’s climate finance activities. In total, 2.37 million compliance units were delivered from NEFCO’s carbon funds last year. A new carbon instrument was established in response to the low price environment. The NEFCO Norwegian Carbon Procurement Facility for Vulnerable CDM Projects (NorCaP) seeks to deliver Kyoto II compliance units for the Norwegian government whilst ensuring the viability of existing projects.

“The flow of new approved projects remained at the same level as the year before but, on the other hand, we experienced an all-time high as regards the number of incoming new project enquiries, which are being reviewed by our administration,” says NEFCO’s Managing Director, Magnus Rystedt.

Subscribe to our newsletter

Our digital newsletter is being published 4-6 times a year. To stay updated on our projects and activities, sign up here.