All agreed loans

Norway. Eidsiva Energi AS

Date of agreement: 13 Dec 2019
Country: Norway
Customer: Eidsiva Energi AS
Amount in NOK: NOK 800 million
Amount in EUR: EUR 79.19 million
Maturity: 10 years
NACE sector / loan type: Production and distribution of electricity
Business area: Energy and water

Project

NIB is providing the loan to finance the modernisation of an electrical distribution network in an investment programme running until 2021.

The programme will help Oslo to achieve zero-emission public transport by 2028. The investments focus in particular on increasing voltage and reducing network losses.

Eidsiva Energi AS is Norway’s largest electrical grid company and has been a customer of NIB since 2007. Eidsiva is 50%-owned by Hafslund AS with Innlandet Energi Holding AS owning 49.41% and the Municipality of Åmot the remainder.

Fulfilment of NIB's mandate

Productivity:
The loan will finance the upgrading and replacement of multiple distribution facilities, as well as lines and cables, necessary due to the aging infrastructure, increased customer peak load demand and growth in new customers connected.

The strengthening and expansion of the networks will increase efficiency by reducing network losses, improve the quality of infrastructure services and enhance security of supply.

Expected impacts related to the investments:

  • Reduced network losses by 200 GWh
  • 8,000 new connections per year

Environment:
Generally speaking, the investment programme will strengthen and smarten the power networks, leading to a more energy efficient system and the network losses are expected to decrease by 200 GWh per year, compared to current annual losses of 1,600 GWh.

Expected impacts related to the investments:

  • Eidsiva’s reduce total use and leakages of sulphur hexafluoride

Sustainability summary

The programme will support the continued electrification of society and transport in particular by increasing access to and the reliability of electricity provision.

Press release

NIB finansierer økt strømdistribusjon i Norge