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


Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs