NIB finances high-capacity transmission line in southern Estonia
(Thomson Reuters ONE) -
The Nordic Investment Bank (NIB) and Estonia's state-owned transmission system
operator Elering AS have signed a 20-year loan for the construction of a 330 kV
transmission line in southern Estonia.
The loan totals EUR 15 million. The new 160-kilometre transmission line will be
built between Tartu, Viljandi and Sindi, linking southeast to southwest of
Estonia. The capacity of the new line will ensure higher security of supply in
the Pärnu region (southwest Estonia) and allow connecting potential new wind
parks in the western Estonia.
"By financing larger capacity of Estonia's transmission lines, NIB contributes
to the country's competitiveness and readiness for innovative approaches in
energy production from renewable sources," says Henrik Normann, NIB President
and CEO.
The new line is one of the technical preconditions for a new cross-border
connection planned between Estonia and Latvia which will reinforce the Baltic
electricity market. The construction began in early 2011 and is to be completed
in 2014.
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
NIB
Vilius Girkontas, Senior Manager Origination, at +358 10 618 0240,
vilius.girkontas(at)nib.int
Dimitrijs Alehins, Senior Communications Specialist, at +358 10 618 0296,
dimitrijs.alehins(at)nib.int
Elering AS
Liis Raadla, Head of Communications, at +372 71 51 368, liis.raadla(at)elering.ee
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Source: NIB NORDIC INVESTMENT BANK via Thomson Reuters ONE
[HUG#1606373]
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Datum: 26.04.2012 - 08:00 Uhr
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