Eesti Energia to get EUR 95m in EIB loans for wind, waste-to-energy projects

Dec 16, 2011 - Estonian state-owned energy company Eesti Energia said today it had secured two loans of EUR 95 million (USD 124m) from the European Investment Bank (EIB), in a drive to fund a waste-to-energy project and two wind farms.

Both credit facilities have a maximum term of 10 years, the company said.

One of the loans, of EUR 50 million, will go to finance a waste-to-energy solution in the company's Iru combined heat and power (CHP) plant. Eesti said it would use the other EUR-45-million loan to fund the 39-MW Narva and the 22-MW Paldiski onshore wind farm projects.

(EUR 1 = USD 1.304)

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