NIB lends to improve grid efficiency and resiliency in Arctic Norway
The Nordic Investment Bank (NIB) has signed a 7-year loan with the Norwegian distribution grid operator Arva AS to improve the efficiency and resilience of the electricity distribution network in Northern Norway.The NOK 500 million (EUR 43.70 million) loan is part of NIB’s Arctic lending and will co-finance Arva’s investment programme for 2023-2024. The investments are expected to increase its distribution capacity between 50-100 MW, representing a 10% increase from the current capacity. The objective is to meet the increased capacity demands due to the electrification of society, e.g.