EUROPE: Nordic Re-Finance has agreed to acquire 31 Traxx AC1 electric locomotives from SBB Cargo, as part of the leasing company’s ambition to expand its portfolio of modern and interoperable electric freight locos.
The locos will continue to be used by SBB Cargo International under a full-service lease agreement. ‘This is a strategically important transaction for us’, said Nordic Re-Finance CEO Thorsten Priebe on February 18. ‘By combining an attractive locomotive portfolio with a full-service lease agreement, we create immediate value and stable cash flows.’
SBB Cargo currently has around 200 mainline locomotives of six types, but is to standardise on Stadler Euro DuFour locos by 2035.
SBB Cargo purchased 35 Traxx AC1 and 15 AC2 locos in 2002-05. Locomotives Re482 031–049 were sold to various companies between 2020-22, and the sale of Re482 000–030 to Nordic Re-Finance completes their divestment.
Ramon Leisinger, Asset Manager Mainline Locomotives at SBB Cargo, said the sale ‘is in line with our strategy to optimise and focus our locomotive fleet. The divestment provides increased financial and operational flexibility while ensuring a sustainable long-term solution for the locomotives.’
The acquisition is Nordic Re-Finance’s second fleet acquisition since Infranity acquired a majority stake in the business in March 2025, coming after the December 2025 purchase of 15 Traxx AC2 electric locomotives from DB Cargo Scandinavia under a partial sale-and-leaseback arrangement.
