EIB to fund nearly-zero-energy building complexes in Copenhagen

EIB to fund nearly-zero-energy building complexes in Copenhagen
EIB Vice President Alexander Stubb © World Trade Organization

The European Investment Bank (EIB) has signed a loan agreement to invest €100m in two nearly-zero-energy building complexes in Copenhagen, Denmark.

The two nearly-zero-energy building complexes will comprise a total of six buildings with a total of 660 energy-efficient apartments, and will be developed by residential and commercial property developer Fastighets AB Balder. This will be the bank’s first investment in an energy efficient building project in Denmark.

Both residential complexes will be developed with the aim of far exceeding the nearly-zero-energy-building (NZEB) standards for Denmark. This will ensure the buildings are future proof, as they will be responsible for a significantly lower net primary energy consumption rate than current – and even future – NZEB standards.

What standards will the complexes need to meet?

Compared to existing building standards, the two nearly-zero-energy building complexes are expected to achieve primary annual energy savings of 764MWh per year, while the average energy consumption of each building will be 18kWh/(m2/sup>*year).

Denmark has already announced its ambition to rely on renewable sources to achieve 100% of its energy needs by 2050, and by significantly improving the energy efficiency of residential buildings through its NZEB standards, the country moves closer to achieving this aim. Further, if buildings can already far outperform these standards, this transition could be faster than expected.

What have the stakeholders said about the project?

EIB Vice-President Alexander Stubb hailed the project as the first of its kind in Denmark, and welcomed the attempt to use cutting-edge technology to improve energy efficiency. He said: “With this project, Balder is ahead of the curve in terms of legislation requiring all new buildings in the EU to have nearly-zero-energy characteristics by 2020. It is also very much in-line in line with the EIB’s energy and climate action objectives, and will contribute to increasing the supply of better quality housing, with lower energy costs, in Denmark.”

CEO of Balder, Erik Selin, added: “We are proud to have signed this agreement with the EIB regarding the financing of two of our ongoing projects in Denmark. The cooperation with the EIB shows that our sustainability efforts and our new production projects maintain a high level.”


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