The European Investment Bank has announced a loan agreement with an energy utility company in Finland for the deployment of a biomass-fired combined-heat-and-power (CHP) plant.
The EUR 75 million ($84.49 million) agreement was signed with Lahti Energia. According to the EIB, the new biomass plant is set to replace the old Kymijärvi I coal-fired power plant by 2019 and will run on 100 percent forest biomass.
According to information published by Lahti Energia, the facility will have the capacity to supply more than 780 GWh of thermal energy annually to a district heating network in the Lahti region of central Finland.
Read the full story at: Biomass Magazine