Ellevio AB (publ) has signed a USD 101.23 million loan agreement with the Nordic Investment Bank (NIB) to co-finance the modernisation and expansion of the Beckomberga substation in Stockholm's regional electricity network.

The announcement, made on 21 October 2026, marks a continuation of the financing partnership between the two institutions, which has previously supported other major grid projects in the Swedish capital.

Increased grid capacity meets growing demand

The project will significantly strengthen the grid's ability to meet growing electricity demand in the Stockholm region while contributing to a more reliable and resilient electricity system, according to the announcement.

Substation at the end of its technical lifespan

The Beckomberga substation currently supplies electricity to approximately 120,000 customers but has reached the end of its technical lifespan. It will now be modernised and expanded, including through a strengthened connection to the national transmission grid.

Key investments in the project include new and extended gas-insulated switchgear (GIS), a new 1,000 MVA transmission grid connection node linked to the nearby substation of transmission system operator Svenska kraftnät, and new transformers.

The project is expected to deliver a range of benefits, including a stronger connection to Sweden's national transmission grid, increased available power capacity, enhanced reliability of the regional electricity system, and improved grid resilience and security of supply.

Continuation of an established financing partnership

NIB is not a new financing partner for Ellevio. The bank has previously provided financing to the company for the reconstruction of the substations in Skanstull and Värtan, as well as for the refurbishment and replacement of approximately 5,000 kilometres of power lines, primarily with underground cables.

NIB offers long-term financing that strengthens the competitiveness, sustainability, and resilience of the Nordic-Baltic region. The bank is an international financial institution owned by Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway, and Sweden and is headquartered in Helsinki with a regional hub in Riga. NIB holds the highest possible credit rating, AAA/Aaa, from both S&P Global Ratings and Moody's.

Executive perspectives on the financing

Johan Lindehag, CEO of Ellevio, said the company is pleased to continue its partnership with NIB through the financing of this strategically important project. Long-term financing, he noted, is essential for enabling the large-scale investments required to renew and expand the electricity network, supporting both electrification and sustainable growth in the Stockholm region.

Eva Nickull, Senior Banker at NIB, commented that the bank's financing strengthens the reliability and security of electricity supply in western Stockholm and contributes to meeting growing electricity demand in the region.

Broader context for Ellevio

Ellevio is one of Sweden's leading energy companies and distributes electricity to almost one million customers across the country. The company enables the electrification of industry and transportation through a modern, reliable grid and major investments in the energy system. Ellevio employs more than 800 professionals and, together with its partners, provides jobs for more than 4,000 people.

The company is owned by pension fund managers OMERS Infrastructure, the Third Swedish National Pension Fund (AP3), Folksam, and AMF.

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