NIB co-finances procurement of automatic electricity meters

Photo: Hafslund Nett

NIB has signed a 15-year loan agreement of NOK 700 million (EUR 75.3 million) with the Norwegian energy company Hafslund ASA to co-finance the procurement of automatic meters for network customers in Oslo, Akershus and Østfold.

Hafslund Nett will install approximately 700,000 new automatic electricity meters, as well as the communications infrastructure and collection system to gather meter values for the management and automation of the network.

Hafslund’s investment in the project is estimated at NOK 2.4 billion. The procurement is part of a national programme, required by the Norwegian authorities, to deploy an automated measuring system.

The roll-out of the meters will be completed by 1 January 2019.

Hafslund ASA is listed on the Oslo Stock Exchange and is one of the largest listed energy groups in the Nordic region. Hafslund is Norway’s largest grid company, the largest in electricity sales and a major producer of renewable energy from hydropower and district heating. The Group is the fifth largest in the Nordic region in electricity sales and has produced renewable energy from hydropower for more than 100 years. Hafslund will further develop both operationally and strategically within the group’s four business areas: production, heat, network and market.

NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.

For further information, please contact
Mr Yngve Söderlund, Senior Manager Lending, Origination, at +358 10 618 0239, 
Mr Arild Moen, Senior Communications Officer, at +358 10 618 0496,