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Green Credit Guarantee for loan to SSAB
Prenumeration
The Swedish National Debt Office has decided to provide a credit guarantee for a loan facility to SSAB AB for the transformation of its steel production facility in Luleå, Sweden. The guarantee is being issued in accordance with the ordinance on state credit guarantees for green investments.
SSAB will be converting its steel production facility in Luleå. The approximately SEK 50 billion investment is partly financed through a SEK 15 billion loan facility. The Debt Office’s guarantee covers 80 per cent of this amount.
The investment will enable the decommissioning of the existing blast furnace, which is expected to reduce greenhouse gas emissions by approximately 2.8 million tonnes of carbon-dioxide equivalents per year. This can be compared with Sweden’s total industrial emissions that in 2023 amounted to 14.8 million tonnes of carbon dioxide equivalents, 5.5 million tonnes of which were from the iron and steel industry.
About green credit guarantees
In order to be eligible for a green credit guarantee from the central government, among other things the investment in question must contribute to Sweden’s environmental and climate policy goals. The Debt Office conducts its assessment on the basis of the criteria set forth in Ordinance (2021:524) on state credit guarantees for green investments.
Read more about the Debt Office’s mandate to provide green state credit guarantees