EIB lends The Navigator Company $126.7M for boiler to help decarbonize production

In Portugal, the European Investment Bank (EIB) has signed a long-term financing agreement with The Navigator Company totaling €115 million. The loan is designed to support the construction and operation of a high-efficiency recovery boiler at the Setúbal industrial complex, which is a key step in Navigator’s decarbonization roadmap.

The Navigator Company is an integrated producer of forestry, pulp, paper, tissue, sustainable packaging solutions and bioenergy. The new boiler, which comes at a total investment cost of €154.7 million, will enable Navigator to reduce direct fossil carbon dioxide emissions at the Setúbal industrial complex by around 136,000 tons a year, equivalent to 24.6% of the group’s emissions in 2022.