🇫🇮 Nordic Investment Bank: High-Temperature Incineration Plant

October 26, 2023

Press release from the Nordic Investment Bank

Nordic Investment Bank

Country: Finland
Borrower: Vantaan Energia Oy
Sector: Public sector & Utilities
Published for 30 days on: Oct 24 2023
Planned date for decision by Board of Directors: Dec 14 2023

Project summary

Vantaan Energia Oy is an energy company in Vantaa, Finland. Vantaan Energia is constructing a 24 MW hazardous waste incineration plant in Vantaa, to be completed in 2025. The amount of waste to be incinerated is approximately 40,000 tonnes per year. The project belongs to the Category A according to NIB’s Sustainability Policy and hence a public disclosure is conducted before the Bank makes a decision on financing the project.

Once finalised, the plant will primarily utilize non-recyclable waste generated in the Southern Finland region and that requires high temperature treatment to neutralize its harmfulness. These waste streams include, for example, paints, oily materials, medicines, and household waste classified as hazardous. Currently there is a lack of hazardous waste incineration plants in Finland and some of these wastes are for the time being exported to and treated mainly in Sweden and Estonia. An Environmental Impact Assessment has been developed for the project and necessary environmental permit was granted in 2022. Two letters of objection to the environmental permit have been filed and are being handled at the Vaasa administrative court (Vaasan hallinto-oikeus).

NIB welcomes comments on the project in question.

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Project sponsor contact information

Project sponsor contact information: Stefan Forsström, [email protected]

NIB contact information: [email protected] / Please write “A project” in the subject field.

Nordic Investment Bank

Sustainability and Mandate Unit

P.O. Box 249

FI-00171 Helsinki


High-Temperature Incineration Plant

Originally published on 24 October.