Hafslund AS

NIB has provided the loan to three Hafslund projects:

1. Hafslund is rebuilding the Braskereidfoss dam and two hydropower plants on the Glomma River after the 2023 collapse caused by Storm Hans. The project will restore generation and boost annual output from 170 GWh to 180 GWh.
2. Construction is underway on the Skygard Data Centre, a 20‑megawatt facility in Økern, Oslo. The project is a joint venture between Hafslund, HitecVision, and Telenor, each holding 32 percent, with Analysys Mason owning 5 percent. The data centre will enable the reuse of excess heat and become a major electricity consumer in the NO1 price area.
3. Hafslund Celsio will upgrade Aker Hospital’s heating facilities. Two outdated oil boilers will be replaced with biofuel units, and the system will be integrated into Oslo’s northern district heating network. The facilities will serve as peak load units, ensuring reliable thermal energy during high demand and cold weather.

Hafslund’s total investment costs for these three projects is NOK 2 billion.

1. Reconstruction of Braskereid hydropower plant

As large scale hydro-power is the most important power source in the Nordpool system due to its storage and flexibility characteristics, the reconstruction will reduce power system volatility and place downward pressure on prices especially during peak demand periods.

The fish ladders are partly upgraded and partly completely new. The project will re-install the capacity in the old power plant, as well as strengthen the resilience of the plant. The renovation will return the unit into operation and add 10 GWh of production per year.

Impact indicators related to the investments:

• Additional renewable energy generation
• Capital expenditure

2. Skygard data centre

The data centre supports local job creation in Oslo. It also facilitates innovation, and startups, with infrastructure designed for AI workloads and confidential partnerships with AI customers. Hafslund also aims to deliver the excess heat from the Skygard data centre to Oslo’s district heating system.

Impact indicators related to the investments:

• Power usage
• Power Usage Effectiveness
• Capital expenditure

3. Aker hospital heating facilities

The project increases the peak load capacity of Groruddalen in Oslo and secures the supply of heat to the Aker hospital. The capacity increase of the affected site is significant. Compared to the total capacity of the district heating system, the effect is marginal.

Two oil boilers will be replaced with bio-based boilers (13 and 26 MW), to be used as a peak load central for the district heating system in Groruddalen in Oslo and provide backup for the Aker hospital. All biofuels purchased have ISCC-certification, meaning that they are sustainably sourced and comply with the RED II directive.

Impact indicators related to the investments:

• Production output
• Capital expenditure

No new permits or environmental assessments are needed. A plan is in place to protect biodiversity and the landscape. Flood risk at Braskereid is high, but upstream dams reduce the threat, and updated flood calculations have been made.