Swedish National Debt Office works with H2 Green Steel regarding a green credit guarantee

News 24 October 2022

In response to H2 Green Steel’s press information released today, the Swedish National Debt Office confirms that the agency is working with an application from the company. The application concerns a state guarantee covering up to 80 percent of a EUR 1 billion credit facility for a plant to manufacture so-called green steel.

The Debt Office is currently conducting an analysis of the project under the framework of the green state credit guarantee scheme. A decision to grant a green guarantee for the project is conditional on the completion of financial and legal due diligence, as well as of an environmental assessment determining that the project fulfils the requirements set forth in the ordinance on state credit guarantees for green investments. A decision is expected to be made next year.   

H2 Green Steel’s ambition is to reduce carbon-dioxide emissions in all phases of steel production. The production will occur in a facility planned for Boden.

“H2 Green Steel’s investment in a green-steel plant in northern Sweden aims to drastically reduce emissions of carbon dioxide and other greenhouse gases in the manufacturing of steel, which has the potential to generate significant environmental and climate benefits,” says Magnus Rystedt, head of the Guarantee & Financing department at the Debt Office.

Read more about the Debt Office’s mandate to issue green state credit guarantees and what criteria form the basis of the environmental evaluation

See also H2 Green Steel’s press release: https://news.cision.com/se/h2-green-steel

Read more about H2 Green Steel at https://www.h2greensteel.com/