All agreed loans

Norway. Eidsiva Energi AS

Date of loan: 6 Aug 2014
Country: Norway
Customer: Eidsiva Energi AS
Amount in NOK: NOK 226.5 million
Amount in EUR: EUR 26.9 million
Maturity: 13 years
NACE sector / loan type: Electricity, gas, steam and hot water supply
Business area: Energy and environment

Environmental effect

This loan contributes to climate change mitigation: 100%

Financing from NIB Environmental Bond proceeds

Share of financing: 100%
Amount disbursed: EUR 27 million

Note: For loans in other currencies than EUR, the equivalent in EUR is based on the exchange rate effective for the disbursement. Read more about the NIB Environmental Bonds

Project

The loan has been provided for the construction of a new biofuelled energy plant at Kallerudlia in Gjøvik, Norway. Eidsiva Energi will also continue to develop its district heating network in Gjøvik.

The commissioning of the wood-chip fuelled plant is scheduled for September 2014. Heat production is expected to gradually increase to an estimated 60 GWh in 2018. The new heat boiler will have a base load capacity of 12 MW and a reserve capacity of 30 MW.

The Kallerudlia plant will replace several oil based heating plants and that will reduce annual CO2 emissions in Gjovik by about 14,800 tonnes annually.

Eidsiva Energi will also continue to develop its district heating network in Gjøvik.  The increase in heat supply and the contribution to the diversification of the energy mix is expected to raise the competitive pressure in the sector.

The Norwegian energy company Eidsiva Energi is the largest producer, distributor and trader of electricity in the counties of Oppland and Hedmark. It is owned by the counties of Hedmark and Oppland and 26 of their municipalities.  

Fulfilment of NIB's mandate

The biofuelled plant will support production of renewable energy. It will diversify the energy mix in the region, contribute to the stability of energy supply, and raise the competitive strength of the sector. The project will directly benefit the industry and inhabitants of Gjøvik.

Sustainability summary

The generation of heat based on renewable fuel is a sustainable way of producing power. The project will directly reduce emissions of greenhouse gases and other air pollutants as it replaces several local fossil-fuelled boilers.

Press release

NIB finansierer fjernvarmeanlegg i Norge