Norway. Sparebank 1 SMN
| Date of loan: | 25 Jul 2012 |
|---|---|
| Country: | Norway |
| Customer: | Sparebank 1 SMN |
| Amount in NOK: | NOK 1,000 million |
| Amount in EUR: | EUR 133 million |
| Maturity: | 15 years |
| NACE sector / loan type: | Financial intermediation, except insurance and pension |
Sectors
| Financial institutions and SMEs |
Environmental lending facility
| CLEERE: | 100% |
|---|
Project
The NOK 1,000 million loan is earmarked to finance Sparebank 1 SMN’s pipeline of hydropower projects, most of them between 1 megawatt and 5 megawatts.
Financial services group SpareBank 1 SMN is headquartered in Trondheim, and employs about 1,100 staff at 54 offices in Trøndelag and in Møre and Romsdal.
Compliance with NIB's mandate
The project may improve the financial sector’s functioning by facilitating access to financing for SMEs. The sub-projects include expansions of physical capital that will increase the installed electricity generation capacity, as well as upgrades of existing hydro power plants.
Environmental summary
Increasing the output from exisiting hydropower plants is among the most sustainable ways of generating electricity. The loan programme will contribute to mitigating climate change.
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