NIB finances Hafslund’s transmission grid in Oslo

NIB has provided a new EUR 120 million loan to the Norwegian energy company Hafslund to finance the expansion and upgrade of the transmission grid in the Oslo region.

The 11-year-maturity loan will help finance the expansion of the current network, as well as an upgrade of the existing lines and relevant equipment. Voltage of transformer stations will be increased in order to reduce the energy loss in the grid and improve the reliability.

“Energy is one of NIB’s focus sectors. With this loan, Hafslund, one of Norway’s biggest energy providers, can offer its customers even more reliable electricity delivery,” says Johnny Åkerholm, NIB’s President and CEO.

Hafslund is the largest transmission grid owner and power sales provider in Norway, in addition to being a significant producer of renewable energy.

The Nordic Investment Bank is the common international financial institution of the eight Nordic and Baltic countries. NIB provides long-term financing to the energy, environmental, transport, logistics and communications, and innovation sectors for projects that strengthen competitiveness and enhance the environment. NIB has the highest possible credit rating, AAA/aaa, with the leading rating agencies Standard & Poor’s and Moody’s.

For further information, please contact:

Mr Vidar Omholt, Senior Manager Origination, at +358 10 618 0286,

Ms Nina Monsen, Senior Communications Specialist, at +358 10 618 0291,