1 October 2021

Renewable energy dominates Swedish Export Credit Agency support

The Swedish state, via the Swedish Export Credit Agency (EKN) provides export support in the form of credit guarantees to businesses. Guarantees for the period January-August 2021 amounted to SEK 56.7 billion, 12% higher than the eight first months of 2020, according to a report from EKN. The guarantee volume (SEK 49.2 billion) is mainly represented by four large export businesses, including offshore wind off the coast of the UK, solar power in Angola, railways in Tanzania, and telecom in the US. EKN presents an upward trend of Small- and Medium sized businesses (SME), increasing from 308 to 334 compared to the same period last year. Additionally, the working capital credit guarantees have decreased due to improved access to financing (Press release).

Soltech Energy acquires NEAB group: Expands product range

Soltech Energy AB has acquired 100% of the shares in the electrical engineering company NEAB group AB. NEAB Group has 105 employees, based mainly in Norrköping. It has sales of approximately SEK 145 million and will integrate solar energy to Soltech’s product range. The acquisition is expected to add a revenue of SEK 35 million in the fourth quarter of 2021 (SvD, press release). 

What we’re reading

• Keeping 1.5°C Alive: Actions for the 2020s (press release)