The 12-year maturity loan will help fund the rehabilitation of five hydropower dams and the construction of a new hydro plant, together with two district heating plants and the construction of the second phase of a wind farm.
“Long-term lending to projects that increase the production of renewable energy at the cost of energy production based on fossil fuels is part of NIB’s environmental mandate,” said Johnny Åkerholm, NIB President and CEO. “The loan also helps to strengthen the competitiveness of an energy company in our member country, which is in line with the second pillar of the Bank’s mandate to strengthen competitiveness and enhance the environment.”
Østfold Energi is an energy producer working to develop its activities within renewable energy. The company owns several hydropower plants, is a co-owner of a wind farm, owns two waste-to-energy plants and is involved in the planning and construction of district heating projects.
