NIB finances upgrade of hydropower plant in Western Norway
The Nordic Investment Bank (NIB) has signed a 7-year loan agreement with power producer Sunnhordland Kraftlag AS (SKL) to finance the upgrade of the Løkjelsvatnet hydropower plant in Etne, Vestland County, Norway. The EUR 42.8 million (NOK 500 million) loan helps prolong the plant's lifespan and increase its capacity and production.The Løkjelsvatnet powerplant, which had reached the end of its technical and economic lifespan, has been reconstructed to increase its installed capacity from 29 MW to 60 MW. The upgrade, which was finalised in October this year, has resulted in an additional