NIB finances Norwegian E-CO Energi's investments in hydropower
(Thomson Reuters ONE) -
The Nordic Investment Bank (NIB) and the Norwegian energy company E-CO Energi
have signed a loan totalling NOK 300 million (EUR 39 million) for financing
investments in hydropower.
The 15-year maturity loan will help finance three hydropower projects. The
investments include the construction of a new dam, four new aggregates and a new
hydropower plant. The new hydropower plant will replace a 40-year-old plant.
"Financing a more efficient production of hydroelectric power is an important
element of NIB's mandate. Hydropower is a clean and renewable source of energy
and therefore we are pleased to take part in financing these investments," says
Henrik Normann, NIB President and CEO.
E-CO Energi is Norway's second largest producer of hydroelectricity with a mean
annual production of 9.7 TWh, which equals 8% of Norway's total electricity
production. The company owns and manages power plants in southern Norway and
also has part ownership of some additional power plants. E-CO Energi is fully
owned by the Municipality of Oslo.
The Nordic Investment Bank (NIB) is the common international financial
institution of the eight Nordic and Baltic countries. NIB provides long-term
financing to the energy, environmental, transport, logistics and communications,
and innovation sectors for projects that strengthen competitiveness and enhance
the environment. NIB has the highest possible credit rating, AAA/Aaa, with the
leading rating agencies Standard & Poor's and Moody's.
For further information, please contact
Vidar Omholt, Senior Manager Origination, at +358 10 618 0286,
vidar.omholt(at)nib.int
Nina Monsen, Senior Communications Specialist, at +358 10 618 0291,
nina.monsen(at)nib.int
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originality of the information contained therein.
Source: NIB NORDIC INVESTMENT BANK via Thomson Reuters ONE
[HUG#1604973]
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Datum: 23.04.2012 - 08:33 Uhr
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