EIB helps The Navigator Company to decarbonize with major biomass boiler investment

In Portugal, the European Investment Bank (EIB) will support The Navigator Company, a major Portuguese industrial group and Europe’s leading pulp and paper manufacturer, with a EUR27.5 million loan for the construction and operation of a new biomass boiler at their integrated mill facility located in Figueira da Foz, a cohesion region in Portugal.

This project is the first major step of The Navigator’s decarbonization strategy, launched recently with the aim of making the company carbon neutral by 2035 (15 years ahead of the EU target of 2050) in line with the Paris Agreement, the EU Green Deal and Portugal’s Roadmap to Carbon Neutrality.