The Nordic Investment Bank (NIB) has signed a 16-year loan agreement worth €28 million with Ltd. WPR2 for the construction and operation of a 112 MW wind farm in Smiltene, northeastern Latvia. The wind farm, called “Project Simpson,” is a greenfield wind development expected to generate around 283 GWh of clean electricity annually once operational.
The financing consortium also includes the European Bank for Reconstruction and Development (EBRD) and Luminor Bank as co-lenders. The borrower, Ltd. WPR2, is jointly owned by funds managed by Lords LB Asset Management and Taaleri Energia. The financing is reportedly eligible under the InvestEU Clean Energy Transition Framework.
The InvestEU programme facilitates long-term financing by mobilising both public and private investments across the European Union. It aims to generate over €372 billion for projects aligned with EU policy priorities such as the European Green Deal, digital transition, and small and medium-sized enterprise development. NIB has been serving as an implementing partner for InvestEU since December 2022.
In September 2025, the NIB issued its inaugural sustainability-linked loans financing bond, raising SEK 1.75 billion through a 5-year issuance. The bond, carrying a coupon of 2.503 per cent and priced at SEK MS+21 bps, will exclusively finance NIB-backed sustainability-linked loans aligned with emission reduction climate targets.