7 Nov 2019
EUR 150 million
Energy and water
|Date of agreement:||9 Jun 2008|
|Customer:||Agder Energi AS|
|Amount in EUR:||EUR 60 million|
|NACE sector / loan type:||Electricity, gas, steam and hot water supply|
|Business area:||Energy and water|
This loan contributes to climate change mitigation: 25%
The 14-year-maturity loan totalling EUR 60 million has been provided for financing the company's investments in the production and distribution of electricity and district heating. The investment programme includes the expansion and maintenance of the company's regional grid and distribution networks, the upgrading of the existing hydropower production facilities, the development of bioenergy-based power production and the expansion of the regional thermal energy distribution grid in southern Norway. Agder Energi AS is the parent company in a vertically integrated Norwegian energy group owned by 30 local municipalities and Norway's largest electricity producer Statkraft.
The investment programme has small and manageable environmental impacts. The investment in refurbishments of the hydropower production facilities and the thermal heating distribution grids has positive environmental impacts, such as the reduction of emitted greenhouse gases, the utilisation of waste gases and spill heat as well as the reduction of the risk of oil leakage from transformer stations to the environment.