NIB finances fibre optic broadband investments in Norway

The Nordic Investment Bank (NIB) signs a 7-year loan with Gudbrandsdal Energi Holding As for the construction of two optical fibre broadband projects in the region of Ringebu, Nord- and Sør-Fron, Norway.

The NOK 125 million (EUR 10.7 million) loan will help finance the fibre-roll out project NKOM 2 to 840 addresses, and the HFC2 roll-out to 5 300 clients. The projects are scheduled to be ready by mid-2024, planning for additional future network rollouts.

“The project supports digitalisation enabling smart homes in remote areas while the local grid company can simultaneously digitise the management and operation of the power transmission network,” said Patrik Marckert, Senior Banker, Public Sector & Utilities at NIB.

Gudbrandsdal Energi Holding AS, owned by the municipalities of Øyer, Ringebu, Sør-Fron, and Nord-Fron, owns Gudbrandsdal Energi Fiber AS, a subsidiary that constructs and leases out broadband networks.

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
Patrik Marckert, Senior Banker, Public Sector & Utilities, +358 10 618 0266, patrik.marckert@nib.int

Arild Moen, Associate Director, Communications, +358 10 618 0496, arild.moen@nib.int