25 Mar 2020
EUR 750 million
|Date of agreement:||18 Dec 2014|
|Customer:||Sparebank 1 SR-Bank ASA|
|Amount in NOK:||NOK 1000 million|
|Amount in EUR:||EUR 120 million|
|NACE sector / loan type:||Loan programme|
|Business area:||Financial institutions and SMEs|
This loan programme will help finance hydropower projects and small and medium-sized enterprises in Norway.
The loan will help finance the construction and renovation of small-scale hydropower plants. About half of the loan will be used to finance SME investments in construction machinery, helicopters and underwater remotely operated vehicles.
Sparebank 1 SR-Bank is based in Stavanger and has 53 branches in the counties of Rogaland, Hordaland and Agder. It is publicly listed and ranks as Norway’s fourth largest savings bank by assets.
The project may improve the financial sector’s functioning by facilitating access to financing for SMEs.
Electricity from hydropower is among the most sustainable methods of generating electricity and renewable energy projects are assumed to decrease the emissions of greenhouse gases by crowding out use of fossil fuels.