NIB finances network upgrade for Danish Thy-Mors Energi
(Thomson Reuters ONE) -
The Nordic Investment Bank (NIB) and Thy-Mors Energi Elnet A/S have signed a
loan totalling DKK 50 million (EUR 6.7 million) for financing the energy
company's five-year investment programme aimed at improving the operating
security of the electricity distribution network.
The loan has a maturity of 10 years and will partly finance the upgrade of the
distribution network, including replacing overhead electricity lines by
underground cables and the upgrade of transformer stations and cable boxes.
Between 2010 and 2015, Thy-Mors Energi will transfer almost 300 kilometres of
high voltage overhead lines underground. The company will also replace about
250 cable connection boxes and renovate four 60 kilovolt boxes. Replacing
overhead electricity lines by underground cables will improve the operating
security of the electricity distribution network resulting in reduced
maintenance cost. The downtime of the network will be reduced resulting in less
inconvenience and expenses for Thy-Mors Energi's customers and thus improve the
efficiency of the economy.
"We are pleased to provide a loan to Thy-Mors Energi, which will help increase
the security of energy supply as well as reduce expenses for end-customers in
our member country," says Johnny Åkerholm, NIB President and CEO.
The Thy-Mors Energi Group has a monopoly in distributing energy in the district
of Thy and the island Mors in north-western Jutland. The group also provides
fibre-optic services in the same area. Thy-Mors Energi Elnet A/S is a wholly
owned subsidiary of Thy-Mors Energi A.M.B.A and operates the electricity network
in the area.
The Nordic Investment Bank (NIB) is the common international financial
institution of the eight Nordic and Baltic countries. NIB provides long-term
financing to the energy, environmental, transport, logistics and communications,
and innovation sectors for projects that strengthen competitiveness and enhance
the environment. 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
Vagn Lundhøj, Senior Manager, Origination, at
+358 10 618 0370,vagn.lundhoj(at)nib.int
Nina Monsen, Senior Communications Specialist, at
+358 10 618 0291,nina.monsen(at)nib.int
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originality of the information contained therein.
Source: NIB NORDIC INVESTMENT BANK via Thomson Reuters ONE
[HUG#1572294]
Unternehmensinformation / Kurzprofil:
Datum: 19.12.2011 - 13:12 Uhr
Sprache: Deutsch
News-ID 98320
Anzahl Zeichen: 3108
contact information:
Town:
Helsinki
Kategorie:
Business News
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"NIB finances network upgrade for Danish Thy-Mors Energi"
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