NIB finances power upgrades in Iceland
The Nordic Investment Bank (NIB) signs a 10-year loan with Icelandic utility Orkuveita Reykjavíkur for the upgrading of a district heating network as well as maintenance of geothermal and hydro power generation facilities in Iceland.The USD 100 million (EUR 91.05 million) loan will finance an investment programme in hydropower and geothermal power production and district heating. The investment period runs from 2023 until the end of 2027. The hydropower and geothermal projects include rebuilding the Andakill hydropower dam, drilling new production wells, new steam chimneys, refurbishment