Brussels, 12/06/2015 (Agence Europe) - On Friday 12 June, the European Investment Bank (EIB) announced that it has granted the first loan under the Juncker investment plan, which will go to the construction of a wood pulp mill in Äänekoski, Finland.
The new mill will produce 1.3 million tonnes of wood pulp a year. The project includes the generation of energy from renewable sources and an innovative bark gasification plant that will allow the mill to be fossil fuel-free. The expected renewable energy generation capacity corresponds to 1% of Finland's current electricity consumption. The EIB explains in a press release that the project, which will receive total aid from the EIB of €275 million, is one of the biggest industrial investments ever made in Finland.
In early June, the European Parliament and Council of Ministers reached inter-institutional agreement on the draft Regulation establishing the European Fund for Strategic Investment (EFSI), the financial arm of the Juncker plan to attract €315 billion of new investment projects over three years (see EUROPE 11329). (Mathieu Bion)