Bastø Electric is 139.2 meter long and 21-metre-wide and can take 600 passengers and 200 cars, or 24 trucks.
7 Apr 2022
NIB finances EQT-backed Molslinjen and Torghattens’ sustainability transformation in Denmark and Norway
NIB has signed a 7-year loan agreement with a EQT owned company to finance capital expenditures relating to electric ferries operated by Molslinjen A/S in Denmark and Torghatten AS in Norway.
The EUR 84.71 million loan, which is fully eligible to be funded by NIB Environmental Bond proceeds, will be key in realising EQT Infrastructure’s ferry capital expenditure programme during 2021-2026.
EQT Infrastructure is combining the two leading ferry companies, Molslinjen and Torghatten, under one common holding vehicle to establish a pan-Nordic floating bridge and island-to-mainland transportation infrastructure champion. The combined entity will become the leading maritime transportation company located in one of the most attractive and creditworthy regions, with a strong and resilient financial profile underpinned by robust cash flow visibility and a highly diversified route and contract portfolio.
“As a financier of new technologies, we are happy to finance the electric vessels of Torghatten and Molslinjen in this loan deal with EQT. By financing the electrification of these ferries, we are part of phasing out fossil fuels and creating more sustainable ferry transport service, while contributing to Denmark and Norway reaching their national targets of decarbonizing their transport sectors in line with the Paris Agreement,” says André Küüsvek, NIB President and CEO.
NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway, and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.
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