Å Energi AS
| Date: | 12.10.2026 |
|---|---|
| Country: | Norway |
| Customer: | Å Energi AS |
| Amount in NOK: | NOK 997 million |
| Amount in EUR: | EUR 93 million |
| Maturity: | 10 years |
| Business sector: | Public Sector & Utilities |
Project
The loan has been provided for the construction of three new hydro power plants—Øygard and Kvernevatn in Åserål, and Skjeggedal in Åmli—and the refurbishment of the existing Hofsfoss and Høgefoss plants in Buskerud and Telemark in southern Norway. The investment programme also includes related infrastructure, such as water intake tunnels and a new grid connection.
The investment programme has a total estimated capital expenditure of NOK 2 billion.
Fulfilment of NIB’s mission
Productivity
The investments are expected to enhance productivity by adding hydropower capacity, improving the efficiency and utilisation of existing assets, optimising the system and strengthening the reliability of critical energy infrastructure.
Environment
Combined, the new and refurbished hydropower plants are expected to increase annual electricity generation by around 130 GWh. The project also includes approximately 6 km of new grid infrastructure, providing an additional capacity of 100 MW.
Sustainability summary
The project is fully eligible under NIB’s renewable energy generation category.
