Stegra, a Swedish low-carbon steel developer, has reached an agreement in principle for a EUR 1.4 billion financing round to finish constructing its large-scale green steel facility in Boden, Sweden.

A consortium led by Wallenberg Investments, including Temasek and IMAS, spearheads the transaction and will hold a leading position in the company. Existing shareholders such as Altor, Hy24, and Just Climate also provide strong support alongside senior and junior lenders.

These funds cover increased project costs, infrastructure component insourcing, and the establishment of a financial buffer. Consequently, Stegra plans to accelerate construction activities while reviewing the project timeline.

Final documentation and regulatory approvals remain pending, and the parties expect to sign principal agreements at the end of April, with the financing round projected to close in June 2026.