14 Mar 2019
EUR 102.26 million
Financial institutions and SMEs
|Date of loan:||19 Dec 2011|
|Customer:||Thy-Mors Energi Elnet A/S|
|Amount in DKK:||DKK 50 million|
|Amount in EUR:||EUR 6.7 million|
|NACE sector / loan type:||Transmission and distribution of electricity|
|Business area:||Energy and water|
The loan has been provided for the energy company's five-year investment programme aimed at improving the operating security of the electricity distribution network.
The investments include replacing overhead electricity lines by underground cables and an upgrade of transformer stations and cable boxes.
Between 2010 and 2015, Thy-Mors Energi will transfer 250 kilometres of 10 kilovolt overhead lines and 36 km of 0.4 kilovolt overhead lines underground. The company will also replace about two hundred and fifty 0.4 kilovolt cable connection boxes, fifty 10 kilovolt boxes and renovate four 60 kilovolt boxes.
The Thy-Mors Energi Group has a monopoly in distributing energy in the district of Thy and the island Mors in north-western Jutland. The group also provides fibre-optic services in the same area. Thy-Mors Energi Elnet A/S is a wholly owned subsidiary of Thy-Mors Energi A.M.B.A and operates the electricity network in the area.
Replacing overhead electricity lines with underground cables will improve the operating security of the electricity distribution network and result in reduced maintenance cost. The down-time of the network will be reduced, resulting in less inconvenience and expenses for Thy-Mors Energi's customers and thus improve the efficiency of the economy. As a result of the project, annual carbon dioxide emissions will be reduced by 200 tonnes.
The project comprises construction work which entails typically construction-related impacts such as increased dust, noise and waste generation. These impacts are expected to be temporary and moderate. It is considered that the impacts of the project will be local and mainly reversible. Due to the implementation of the investment programmes, the network losses will be reduced. Thy-Mors Energi has not implemented a formal Environmental, Health and Safety management system.