🇫🇮 InvestEU: NIB lends to zero and low carbon vessels with infrastructure in Norway

March 15, 2024
View from Lovund hills to the Helgeland archipelago in the Norwegian sea on sunny summer afternoon. Silhouette of Træna island on the background

NIB signs a 7-year loan to co-finance ferry and express boat operator Norled AS’ investments in zero and low carbon vessels and related land-based infrastructure in Norway during 2024-2030. The InvestEU programme supports the loan under NIBs Framework Operation Green Mobility and Transport approved by the Investment Committee.

This NOK 500 million (EUR 43.4 million) loan will help Norled finance the extension of its low-carbon fleet. This is NIB’s first InvestEU loan in Norway.

Norway is electrifying its transport network at a rapid pace, aiming to cut 50% of Norwegian emissions in the transport industry by 2030.

Harald Rokke, Director, Infrastructure & Project Finance and Country Lead for Norway, said: “By financing the green transition of the Nordic ferry sector, NIB not only furthers the decarbonisation of maritime transport but also sparks change across various industries, such as green hydrogen, batteries, and hybrid solutions. At the forefront of this shift, Norled plays a key role in the electrification of short-sea ferries and pioneering the use of new fuels like hydrogen.”

Norled AS is one of Norway’s largest ferry and express boat operators with concessions on 25 public transport service contracts with 50 routes along the coast of Norway. The company operates 41 ferries and 34 express boat services from Troms, Nordland, Trøndelag, Møre og Romsdal, Vestland, Rogaland, Oslo, Akershus og Østfold. The company has about 1,200 employees and is headquartered in Stavanger with branch offices in Bergen and Oslo. Norled is owned by global real assets investor CBRE Investment Management.

The InvestEU programme provides the European Union as well as Norway and Iceland with crucial long-term funding by leveraging substantial private and public funds in support of policy priorities, like the green and digital transitions. You can read more at NIB and InvestEU.

NIB is an international 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
Harald Rokke, Director, Infrastructure & Project Finance at NIB, and Country Lead for Norway, +358 10 618 0286, [email protected]

Arild Moen, Associate Director, Communications at NIB, +358 10 618 0496, [email protected]

Cathrine Gjertsen Communication Manager at Norled, mobile +47 99 49 25 37, [email protected]

Originally published on 14 March by Nordic Investment Bank.

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