Intesa Sanpaolo: 700 million euros for CO2 capture and storage in Sweden

The IMI Corporate & Investment Banking Division of Intesa Sanpaolo , led by Mauro Micillo, has participated, together with a pool of international banks, in a financing of over 700 million euros in favor of Stockholm Exergi for the construction of Beccs Stockholm , one of the largest plants in the world for the capture and permanent storage of biogenic CO2 in Sweden.

Construction of the plant, which will be located near Värtaverket in Stockholm, will begin immediately with the aim of having it operational by 2028. Once completed, it will be able to capture and store up to 800,000 tonnes of CO2 per year.

In the transaction, the IMI CIB Division acted as Sole Global Coordinator and Sole Bookrunner, confirming the leading role of Intesa Sanpaolo, led by CEO Carlo Messina , in financing strategic initiatives for the energy transition and environmental sustainability.

Stockholm Exergi is the largest energy company in Stockholm, Sweden, providing heating, electricity and waste management services to over 800,000 residents through a 3,000 km district heating network. The company is controlled by the City of Stockholm and Ankhiale , a consortium of Europe's largest pension funds.

“This financing represents an important step in the construction of one of the world’s most advanced plants for the capture and storage of biogenic CO2,” said Nicola Doninelli , Head of Distribution Platforms & GTB of the IMI Corporate & Investment Banking Division of Intesa Sanpaolo. “Intesa Sanpaolo confirms its consolidated role as a strategic partner for projects of global importance that respond to environmental challenges and the need for more sustainable energy solutions. Collaboration with international players and the adoption of cutting-edge technologies are essential to the success of initiatives such as Beccs Stockholm.”

The plant's underlying technology, Bio-CCS , captures biogenic carbon dioxide before it reaches the atmosphere and stores it permanently in rock. This process generates negative emissions, as carbon dioxide is removed from the biogenic cycle, which is a key tool in achieving climate goals.