NIB loan to help increase renewable energy production in Greenland
(Thomson Reuters ONE) -
The Nordic Investment Bank (NIB) and the Greenland Self-Rule Government have
signed a 15-year-maturity loan agreement totalling DKK 350 million (EUR 47
million) for the construction of a new hydropower plant.
The plant, with an installed capacity of 22.5 MW, is under construction outside
the town of Ilulissat on the west coast of Greenland. The new power plant will
harness the water discharge from two natural glacial lakes.
"This project is of high importance for Greenland as the island is reducing its
dependence on energy production from fossil fuels. The new power plant will help
increase power generation from renewable sources," says Henrik Normann, NIB
President and CEO.
The project includes building a 5.5-kilometre tunnel to direct water to three
7.5 MW turbines in an underground power station. The project supporting
infrastructure includes a 60 kV overhead transmission line, running from the
power plant to the town of Ilulissat, as well as roads and a small harbour. The
first turbine is planned to be commissioned in November 2012 and full operation
is planned from September 2013.
NIB is a multilateral financial institution owned by eight member countries:
Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The
Bank finances private and public projects in and outside the member countries.
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
Mr Vagn Lundhøj, Senior Manager Origination, at +358 10 618 0370,
vagn.lundhoj(at)nib.int
Mr Dimitrijs Alehins, Senior Communications Specialist, at +358 10 618 0296,
dimitrijs.alehins(at)nib.int
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(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: NIB NORDIC INVESTMENT BANK via Thomson Reuters ONE
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Datum: 26.06.2012 - 05:00 Uhr
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