All agreed loans

Norway. Sparebank 1 SMN

Date of loan: 25 Jul 2012
Country: Norway
Customer: Sparebank 1 SMN
Amount in NOK: NOK 1,000 million
Amount in EUR: EUR 135.7 million
Maturity: 15 years
NACE sector / loan type: Production and distribution of electricity
Business area: Financial institutions and SMEs

Environmental effect

This loan contributes to climate change mitigation: 100%

Project

The NOK 1,000 million loan is earmarked to finance Sparebank 1 SMN’s pipeline of hydropower projects, most of them between 1 megawatt and 5 megawatts.

Financial services group SpareBank 1 SMN is headquartered in Trondheim, and employs about 1,100 staff at 54 offices in Trøndelag and in Møre and Romsdal.

Fulfilment of NIB's mandate

The project may improve the financial sector’s functioning by facilitating access to financing for SMEs. The sub-projects include expansions of physical capital that will increase the installed electricity generation capacity, as well as upgrades of existing hydro power plants.

Sustainability summary

Increasing the output from exisiting hydropower plants is among the most sustainable ways of generating electricity. The loan programme will contribute to mitigating climate change.

Press release

NIB og Sparebank 1 SMN investerer i norske vannkraftverk