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					</table><p>Renewable materials-based paper and packaging solutions company <a href="https://www.storaenso.com/en" target="_blank" rel="noopener">Stora Enso</a> has issued two green bonds worth €500 million (~$536 million) each under its Euro Medium Term Note program. These bonds will be listed on the <a href="https://www.bourse.lu/index.jsp" target="_blank" rel="noopener">Luxembourg Stock Exchange</a>.</p>
<p>These bonds aim to raise funds for eligible projects and assets that contribute to the transition towards a low-carbon and environmentally sustainable society, aligning with the Helsinki-based Stora Enso&#8217;s sustainability agenda and goals. The eligible asset categories include renewable energy, waste to energy, energy efficiency, and pollution control.</p>
<p>The bonds have maturities of 3 and 6.25 years, with fixed coupon rates of 4% and 4.25%, respectively. They are issued under Stora Enso&#8217;s new combined Green and Sustainability-Linked Financing Framework, launched in May 2023.</p>
<p>The three-year bond was issued at an issue price of 99.928, corresponding to a yield of 4.026% and Euro Mid-Swaps of +65 basis points. The 6.25-year bond was issued at an issue price of 99.64, yielding 4.32% and Euro Mid-Swaps +120 basis points.</p>
<p>Kaarlo Höysniemi, SVP Group Treasury at Stora Enso, said the issuance aligns well with the company&#8217;s sustainable finance strategy and sustainability commitments.</p>
<p>BNP Paribas, Crédit Agricole CIB, Danske Bank, and SEB were joint lead managers and bookrunners.</p>
<p>Green bond issuances have witnessed an uptick in the last couple of years. India <a href="https://www.mercomindia.com/government-sale-maiden-%e2%82%b9160-billion-green-bonds" target="_blank" rel="noopener">completed</a> the sale of ₹160 billion (~$1.9 billion) worth of sovereign green bonds, with the second tranche raising ₹80 billion (~$970 million) in February.</p>
<p>The Australian Government recently said it will <a href="https://www.mercomindia.com/australia-to-green-bonds-program-in-2024" target="_blank" rel="noopener">introduce</a> a sovereign green bonds program in 2024 to enable investors to support public projects driving Australia&#8217;s net-zero transition and boosting the country&#8217;s green finance market scale.</p>
<p>In an interview on the sidelines of the Mercom India Renewables Summit 2023, Chintan Shah, a Renewable Energy Expert, <a href="https://www.mercomindia.com/defining-green-bonds-renewables-in-india-interview" target="_blank" rel="noopener">commented</a> As India strives to achieve its non-fossil-based energy target of 500 GW set for 2030, the funding is going to be supported by the green bond market and not just the term lending.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/arjun-joshi/" class="vcard author" rel="author"><span class="fn">Arjun Joshi</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Arjun-Joshi-1.png" width="50" /></p>
<p><strong style="text-decoration: underline">Arjun Joshi,</strong> Staff reporter at Mercom India<br />
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<p><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Arjun-Joshi-1.png" width="86" height="102" /><a href="https://mercomindia.com/author/arjun-joshi/" target="_blank" rel="noopener"><strong style="color: #00b451">Arjun Joshi</strong> </a>is a staff reporter at Mercom India. Before joining Mercom, he worked as a technical writer for enterprise resource software companies based in India and abroad. He holds a bachelor’s degree in Journalism, Psychology, and Optional English from Garden City University, Bangalore. <a href="https://mercomindia.com/author/arjun-joshi" target="_blank" rel="noopener">More articles from Arjun Joshi.</a></p>
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Sustainable Packaging Solutions Firm Stora Enso Raises €1 Billion via Green Bonds


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					</table><p>Taking a step further to maintain sustainability in battery production, Finland-based forest products manufacturer <a href="https://www.storaenso.com/en" target="_blank" rel="noopener">Stora Enso</a> and lithium-ion battery producer <a href="https://northvolt.com/" target="_blank" rel="noopener">Northvolt</a> inked an agreement to develop what is claimed to be the world’s first industrialized battery produced with renewable wood from the Nordic forests of Finland and Sweden.</p>
<p>The batteries will be made using lignin-based hard carbon produced with wood in the Nordic greens. Lignin is a polymer derived from a plant. It is found in the cell walls of dry-land plants. It acts as a natural and strong binder, given that trees are composed of 20-30% lignin.</p>
<p>Stora Enso and Northvolt have signed an agreement to create a sustainable battery with anode produced from renewable raw materials like lignin. Both companies are well-equipped with the components, competence, and expertise required for battery production.</p>
<p>The pulp and paper manufacturer will provide its lignin-based anode material lignode, derived from the sustainably managed Nordic forests. Northvolt will manage the cell design, production process development, and scaling-up of the above technology.</p>
<p>Stora Enso has been in the industrial production of lignode from lignin since 2015. The company’s pilot plant for bio-based carbon materials is located at its Sunila production site in Finland, where lignin is produced.</p>
<p>The annual lignin production capacity is 50,000 tons, making Stora Enso the largest kraft lignin producer in the world. The company is conducting a feasibility study to evaluate the establishment of its first industrial production of lignode at the Sunila site.</p>
<p>According to Northvolt, it has over $55 billion worth of contracts from its vast customer base, which includes BMW, Fluence, Scania, Volkswagen, Volvo Cars, and Polestar. The company aims to establish recycling capabilities to enable 50% of all its raw material requirements to be sourced from recycled batteries by 2030.</p>
<p>Northvolt recently <a href="https://mercomcapital.com/northvolt-raises-support-factory-rollout-europe/" target="_blank" rel="noopener">signed</a> a $1.1 billion convertible note to finance its expansion of battery cell and cathode material production to cater to the rapidly expanding demand for batteries.</p>
<p>According to a recent Fraunhofer Institute for Systems and Innovation Research survey, Europe is expected to <a href="https://mercomindia.com/europes-battery-cell-capacity-increase-1-5-twh-2030/" target="_blank" rel="noopener">achieve</a> a battery cell production capacity of 124 GWh in 2022. The survey forecasts that by 2025, European battery cell production will quadruple to over 500 GWh and reach up to 1.5 TWh by 2030.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/gourav-mishra/" class="vcard author" rel="author"><span class="fn">Gourav Mishra</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/WhatsApp-Image-2022-04-06-at-6.37.25-PM-1-1.jpeg" width="50" /></p>
<p><strong style="text-decoration: underline">Gourav,</strong> Staff reporter at Mercom India<br />
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<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/WhatsApp-Image-2022-04-06-at-6.37.25-PM-1-1.jpeg" width="89" height="102" /><a href="https://mercomindia.com/author/gourav-mishra/" target="_blank" rel="noopener">Gourav</a> is a staff reporter with Mercom India with over six years of experience in various roles with NewsX, The New Indian Express, IBTimes India, and U.S., Republic, and Analytics India Magazine. Gourav has a Master&#8217;s in journalism from Jain University, Bengaluru. <a href="https://mercomindia.com/author/gourav-mishra/" target="_blank" rel="noopener">More articles from Gourav Mishra</a></div>
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Finland-Based Stora Enso and Northvolt to Produce Batteries Using Renewable Wood

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