Key activities in 2023

Nopef granted financing

to

new projects

One of Nopef’s goals for 2023 was to approve financing to 35 new projects. It surpassed this goal by granting financing totalling EUR 1.9 million to 56 projects. This demonstrates the increasing demand for funding and support for internationalisation projects among Nordic SMEs when compared to the 35 projects approved in 2022, which totalled EUR 1.3 million.

Support for feasibility studies for pilots and demonstration projects continued to see significant demand in 2023 and resulted in 11 approved projects, representing 21% of all project financing. The approved feasibility studies included solutions in energy efficiency, batteries, solar power, offshore wind, digitalisation, sustainable packaging and building materials. The approved projects also include eight travel grants provided as part of the pilot cooperation project with Nordic Innovation.

All approved projects have been assessed by Nefco’s environmental and sustainability experts and are expected to provide measurable environmental benefits when implemented. Of the projects approved for funding by Nopef in 2023, 21 (38%) are climate projects aimed at reducing greenhouse gas emissions through increased energy efficiency or renewable energy production. The number of projects focused on solutions for the transition to a circular economy increased during the year to 14, representing 25% of all approved projects.

Kube Energy is a Norwegian energy company that specialises in providing clean, renewable energy to international aid organisations working in remote and unstable areas. The environmental benefit stems from replacing diesel generators with solar plants and generating clean electricity, which is also supplied to surrounding communities.

Having previously worked with Nopef, Kube Energy approached Nopef in 2022 to help the company with an expansion to the Central African Republic (CAR). The first milestone of this international expansion was reached in 2023, with Kube Energy establishing a fully owned subsidiary in CAR and reaching an agreement with the Government of CAR over the production, distribution and sale of renewable energy. Through this project, Kube Energy expects to supply two peacekeeping missions with 6-7 MW of solar power.