🇳🇴 NIB signs loan with Hafslund for key infrastructure projects in Norway
Also in
The Nordic Investment Bank (NIB) has signed a loan agreement of NOK 1 billion (approximately EUR 86 million) with Hafslund AS to finance three strategic investments in Norway: the rebuilding of the Braskereidfoss hydropower facilities, construction of the Skygard Data Centre in Oslo, and the upgrade of Aker Hospital’s heating system.
The NOK 1 billion loan has a tenor of eight and eleven years. The projects represent important investments for Hafslund and support Norway’s energy resilience, digital infrastructure, and sustainable heating solutions.
Hafslund is rebuilding the Braskereidfoss dam and two hydropower plants on the Glomma River after the dam collapsed during Storm Hans in 2023.
Construction is underway on a 20 MW data centre at Økern, Oslo, with completion of the first phase approaching. The data centre will enable the reuse of excess heat in the district heating system in Oslo.
Hafslund Celsio upgrades and integrates the hospital’s heating system into Oslo’s northern district heating network. The upgrade will decrease emissions and secure reliable thermal energy during peak demand.
Jussi Nikkanen, Senior Banker at NIB, said: “We are pleased to support a key player in the renewable energy sector. Investments in sustainable power and heat generation are crucial to ensuring a resilient and efficient energy infrastructure.”
Hafslund is Norway’s second largest renewable energy group with 81 power plants that together produce 21 TWh annually. Hafslund is also Norway’s largest district heating supplier, delivering 1.9 TWh of district heating to 400,000 people and businesses in Oslo. In addition, the group is involved in carbon capture and wind power, and has a 50 percent stake in Eidsiva Energi. Eidsiva Energi owns 100 percent of Elvia, Norway’s largest grid company.
NIB is the international financial institution of Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway, and Sweden. The Bank finances projects that improve productivity and benefit the environment of the Nordic-Baltic region. The Bank is headquartered in Helsinki with a regional hub in Riga. NIB has the highest possible credit rating, AAA/Aaa, with S&P Global Ratings and Moody’s.
For further information, please contact
Jussi Nikkanen, Senior Banker, at +358 10 618 0351, [email protected]
Arild Moen, Associated Director, Communications, +358 10 618 0496, [email protected]
Originally published on 14 November by Nordic Investment Bank.
Announcements are published as a service to readers. The sender is responsible for all content.
Announcements for publication can be submitted to [email protected].
