2020
EUROPEAN INVESTMENT BANK
(as Bank)
and
NORTHVOLT ETT AB
(as Borrower)
NORTHVOLT ETT – LARGE SCALE BATTERY
PLANT
Finance Contract
EIB Internal Classification Level: Corporate Use
Contract Number (FI N°) 87878
Operation Number (Serapis N°) 2017-0359
[…]
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EU-DOCS\27784104.20
THIS CONTRACT (the “
Contract”) is made on
2020
BETWEEN:
(1)
THE EUROPEAN INVESTMENT BANK having its seat at 100 blvd Konrad Adenauer,
Luxembourg, L-2950 Luxembourg, represented by […] (the “
Bank” or “
EIB”); and
(2)
NORTHVOLT ETT AB, a limited liability company organised and existing under the laws of
Sweden (corporate registration number 559154-7715) and, as at the date hereof, having its
registered address at c/o Northvolt AB, Gamla Brogatan 26, 111 20 Stockholm, Sweden,
represented by […] (the “
Borrower”),
each a “
Party” and together the “
Parties”.
WHEREAS:
(A)
[…]
(L)
The Bank considers that access to information plays an essential role in the reduction of
environmental and social risks, including human rights violations, linked to the projects it
finances and has therefore established its transparency policy, the purpose of which is to enhance
the accountability of the Bank’s group towards its stakeholders and the citizens of the European
Union in general.
(M)
[…]
7.
UNDERTAKINGS AND REPRESENTATIONS
[…]
7.1
Continuing Project undertakings
(a)
[…]
(b)
Environmental compliance: comply with clause 17.3 (
Environmental compliance) of
the Common Terms Agreement, the terms of which are hereby incorporated by
reference into this Contract as if fully set forth herein,
mutatis mutandis;
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[…]
7.2
EIB Representations and Warranties
For the benefit of the Bank, the Borrower shall make the representations and warranties set out
in this Article 7.8 as to itself and, where applicable, on behalf of each Obligor:
(a)
[…]
(e)
Environmental compliance: the representations or warranties made in clause 16.14
(
Environmental and social matters) of the Common Terms Agreement, the terms of
which are hereby incorporated by reference into this Contract as if fully set forth herein,
mutatis mutandis, are true, correct and accurate in the terms they are stated in such
clause;
[…]
9.
INFORMATION AND VISITS
9.2
Information concerning the Project
In addition to clause 18 (
Information Covenants) of the Common Terms Agreement, the
Borrower shall, and shall procure that the Sponsor and each Obligor shall (as applicable):
(a)
deliver to the Bank:
(i)
[…]
(iii)
any such information or further document concerning the financing,
procurement, implementation, operation and environmental matters of or for the
Project as the Bank may reasonably require within a reasonable time,
provided always that if such information or document is not delivered to the Bank on
time, and the Borrower does not rectify the omission within a reasonable time set by the
Bank in writing, the Bank may remedy the deficiency, to the extent feasible, by
employing its own staff or a consultant or any other third party, at the Borrower’s
expense and each Obligor shall provide such persons with all assistance necessary for
the purpose;
(b)
promptly inform the Bank of:
[…]
(ii)
any non-compliance by it with any Environmental and Social Law and/or any
suspension, revocation or modification of any Environmental Permit,
and set out the action to be taken with respect to such matters.
[…]
[
EIB Finance Contract]
link to page 3
SCHEDULE 1
PROJECT SPECIFICATION AND REPORTING
[…]
Part 2
Information Duties under Article 9.1 (Information concerning the Project)
PROJECT INFORMATION TO BE SENT TO THE BANK AND METHOD OF
TRANSMISSION
[…]
2. Information on specific subjects
The Borrower shall deliver to the Bank the following information at the latest by the deadline
indicated below.
Document / information
Deadline
The full EIA study concerning the second component (additional 8 As soon as available to the
GWh capacity) of the manufacturing plant in Skellefteå (NV 1.2), Borrower or the Sponsor
in addition to evidence of the public consultation process followed.
Evidence confirming the approval by the competent authority of the As
soon
as
the
building permit for the second component (additional 8 GWh corresponding
documents
capacity) of the manufacturing plant in Skellefteå (NV 1.2).
are
delivered
to
the
Borrower or the Sponsor by
the competent authorities
Evidence confirming the approval by the competent authority of the As
soon
as
the
environmental permit (including the relevant IED authorisation) for corresponding documents
the second component (additional 8GWh capacity) of the are
delivered
to
the
manufacturing plant in Skellefteå (NV 1.2).
Borrower or the Sponsor by
the competent authorities
The Borrower undertakes to provide the Bank with any other As
soon
as
the
relevant environmental study or authorisation that will be obtained corresponding
documents
to implement or operate any other part of the project.
are
delivered
to
the
Borrower or the Sponsor by
the competent authorities
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EU-DOCS\27784104.20
3. Information on the project’s implementation
The Borrower shall deliver to the Bank the following information on project progress during
implementation at the latest by the deadline indicated below.
Document / information
Deadline
Frequency of
reporting
Project Progress Report
Yearly
June 30th 2021
-
[…]
June 30th 2022
-
A description of any major issue with impact on the June 30th 2023
environment;
-
[…]
In case of a
delay
in
implementation
of 6 months or
more,
an
additional
Progress
Report on June
30th
of
the
corresponding
later year(s).
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EU-DOCS\27784104.20
[…]
4. Information on the end of works and first year of operation
The Borrower shall deliver to the Bank the following information on project completion and initial
operation at the latest by the deadline indicated below.
Document / information
Date of delivery
to the Bank
Project Completion Report, including:
June 30th 2024
o
[…]
-
A description of any major issue with impact on the environment or
In case of a delay in
social impacts;
implementation of 6
[…]
months or more, the
Completion Report
is pushed into the
corresponding later
year(s).
[…]
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