NIB to finance hydropower plant in Iceland

The Nordic Investment Bank will provide a loan for Landsvirkjun to finance a new hydropower project in southern Iceland, the bank announced.

NIB is the common international financial institution of the eight Nordic and Baltic countries.

The 16-year maturity loan totaling USD70 million (EUR 52.5 million) will help build the Buoarhals hydropower plant, which is expected to produce 585 GWh of electricity annually.

The intake reservoir of the power station will be formed with a 2.1 km-long dam over the Koldukvisl River. The

Buoarhals hydropower plant is planned to be finalized in 2014.

For more hydropower news and information, click here

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs