THE EUROPEAN Investment Bank is lending a town in northern Sweden Euro 33 million to build a biomass fuelled combined heat and power station, which will consume a fuel that is widely available in the area: timber and wood chips.

Electricity distribution company Jämtkraft AB is one of the borrowers; it is a company part-owned by the Swedish municipality of Östersund, (population 60,000), the only major town in country's northern interior.

The loan is being shared with Sweden's state-owned energy company Vattenfall AB and the ...

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