All agreed loans

Norway. Agder Energi AS

Date of agreement: 9 Jun 2008
Country: Norway
Customer: Agder Energi AS
Amount in EUR: EUR 60 million
Maturity: 14 years
NACE sector / loan type: Electricity, gas, steam and hot water supply
Business area: Energy and water

This loan contributes to climate change mitigation: 25%

Project

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.

Sustainability summary

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.