NIB loan of €30m finances hydropower plant in Norway

In:

Renewable energy, Traditional energy

Region:

Europe

Nordic Investment Bank (NIB) and Norwegian utility company Sogn og Fjordane Energi have signed a 15-year €30 million loan to finance construction of a new 47MW hydropower plant in Osterbo, Norway, as well as a 20 km regional power line. The project is eligible for financing with NIB Environmental Bonds as the plant has a water reservoir that allows it to store and balance fluctuating generation and demand patterns.

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