3 September 2010: The European Investment Bank (EIB) is financing a project in Lahti, Finland, that will convert municipal waste into heat and power through the large-scale use of a novel method involving waste gasification, gas cleaning and high-efficiency combustion.

The EIB’s EUR 75m loan will help finance the combined heat and power plant that is expected to convert 250,000 tons of waste per year into 90 MW heat and 50 MW electricity, partially replacing a coal-fired plant and sharply reducing landfill disposal in the region. Additional financing will be provided by the Nordic Investment Bank, Lahti Energia’s own funds and a grant from the Finnish Government. [EIB Press Release]