NIB finances construction of hydropower plants and networks in Norway
The Nordic Investment Bank (NIB) signs a 7-year loan with the Norwegian utility company Nordkraft AS to construct four small-scale run-of-the river hydropower plants with a total capacity of 26.1 MW, and a regional grid and distribution network in northern Norway.The NOK 500 million (EUR 48.61 million) loan will co-finance the construction of four small-scale (<10 MW) run-of- river hydropower plants in Øvre Russvik, Nedre Russvik, Ritaelva and Sveingård. The plants will have a total annual power generation of 68.7 GWh. All plants fulfil the technical screening criteria for hydropower in the