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Reykjavik Energy secures $100 million green loan financing
By Marisa Wong
Los Angeles, Dec. 13 – Reykjavik Energy (Orkuveita Reykjavikur) and the Nordic Investment Bank have agreed on a green loan financing of energy and utility projects in the amount of $100 million, according to a press release.
The loan agreement is for 10 years and can be drawn on for 18 months from signing.
The financing will solidify ON Power’s electricity generation in the Hengill area and enhance Veitur Utilities’ district heating system in Iceland’s capital area. ON Power, Veitur’s sister company, operates geothermal power plants at Nesjavellir and Hellisheidi. ON Power and Veitur are subsidiaries of Reykjavik Energy.
The public utility is based in Reykjavik, Iceland.
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