Norway. Lyse Energi AS
| Date of agreement: | 08 Oct 2012 |
|---|---|
| Country: | Norway |
| Customer: | Lyse Energi AS |
| Amount in NOK: | NOK 325 million |
| Amount in EUR: | EUR 43.9 million |
| Maturity: | 10 years |
| NACE sector / loan type: | Electricity, gas, steam and hot water supply |
This loan contributes to climate change mitigation: 10%
Project
The loan has been provided to finance an upgrade of an electricity grid. The investment will focus mainly on the Stavanger area of southern Norway to respond to strong population growth in the region.
In addition to connecting new customers to the distribution network, Lyse Energi will install bigger substations and improve the energy efficiency of its monitoring and operating system. The project is scheduled for 2013–2015 and will contribute to a more reliable distribution of electricity in southern parts of the Rogaland County. Lyse Energi will also install real-time meters in households to offer real-time pricing services that could shift electricity consumption from peak load periods to hours of lower prices.
Lyse’s core business is to produce energy and telecom products and building and running the infrastructure. The product range consists of electricity, mainly from hydropower, as well as natural gas, heat, refrigeration, telephony and broadband.
Fulfilment of NIB's mandate
The expansions and upgrades to the electricity grid are necessary to accommodate for population growth and sustain economic activities in the region.
Sustainability summary
The general refurbishment and connection of new clients to Lyse’s electricity grid does not have significant impacts on the environment. Lyse Energi has waste procedures to handle replaced oil insulated cables. The project to install meters measuring real-time electricity consumption may lead to a slight decrease in power use.