The project comprises a total of six buildings which together will provide 660 new apartments in the Copenhagen Metropolitan Area.

EIB vice-president Alexander Stubb said: “After various projects in Sweden and Finland, this is the first so-called “NZEB” project the Bank finances in Denmark.

“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.”

Balder CEO Erik Selin said: “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.”

The new buildings will already comply with the future NZEB requirements for Denmark, having a significantly lower net primary energy consumption compared to the proposed Danish NZEB standards.

The average value is expected to lie around 18 kWh/(m2y) and, overall, primary energy savings of 764MWh/year are expected when compared with the existing building standards regulation.

Source: Company Press Release