Sweden's Northvolt raises $5 billion green loan to expand battery factories

General view outside the Northvolt facility in Vasteras, Sweden, September 29, 2021. Picture taken September 29, 2021. REUTERS/Helena Soderpalm./File Photo

STOCKHOLM (Reuters) - Swedish lithium-ion battery producer Northvolt said on Tuesday it has raised $5 billion in the form of the largest green loan raised in Europe as it seeks to expand its battery factory in northern Sweden.

The company has now secured more than $13 billion in equity and debt to expand its operations across Sweden, Poland, Germany, the United States and Canada.