All agreed loans

Norway. Agder Energi AS

Date of loan: 9 Sep 2016
Country: Norway
Customer: Agder Energi AS
Amount in NOK: NOK 465 million
Amount in EUR: EUR 50 million
Maturity: 15 years
NACE sector / loan type: Electricity, gas, steam and hot water supply
Business area: Energy and environment

Project

The loan has been provided for investments in smart meters and an advanced meter system (AMS) in the counties of Aust-Agder and Vest-Agder in the south of Norway.

The project is part of the Norwegian state programme for the nationwide transition to the AMS, which is scheduled for completion by 1 January 2019.

The introduction of smart meters will fundamentally replace the present electrical meters with a more effective national automatic metering system to receive, store and process data in a national hub. This will give all stakeholders in the electricity system improved opportunities to secure supply, increase the share of environmentally friendly electricity production, and reduce energy consumption.

Kristiansand and Arendal are the biggest cities in Aust-Agder and Vest-Agder. The two counties are home to almost 300,000 inhabitants. The project includes approximately 200,000 meters.

The total investments by Agder Energi in smart meters for the period of 2015–2019 amount to NOK 1 billion.

Agder Energi AS is majority-owned by local municipalities and is Norway’s fourth largest hydropower producer. The company’s operations include the production, distribution and sale of hydropower and energy-related services.

Fulfilment of NIB's mandate

Smart grids are expected to have a positive impact on energy efficiency in the long run. Together with the nationwide roll-out of smart meters, this project will support the development of a more intelligent, flexible and reliable grid in Norway. By combining technology, consumer price awareness and automated consumption responses, real-time pricing of electricity is likely to change consumption patterns.

Sustainability summary

The replacement of the existing electricity meters will result in hazardous electronic waste. The installation contractor is responsible for disposing of the waste in accordance with applicable regulations.

Press release

NIB finansierer anskaffelse av automatiske strømmålere i Agder