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Landsnet signs a loan agreement with the Nordic Investment Bank

·1-min read

Landsnet and the Nordic Investment Bank (NIB) have signed a loan agreement in the amount of USD 50 million to finance the construction of the Krafla Line 3 and Hólasandur Line 3 transmission lines. This new generation of lines has been designed to improve energy efficiency, increase transmission capacity and security of supply, locally and for the entire transmission system.

Guðlaug Sigurðardóttir, CFO, made the following statement:

"We are pleased that the Nordic Investment Bank has agreed to finance two of our largest and most important projects, Krafla Line 3, which will connect Krafla and Fljótsdalur, and Hólasandur 3, which will connect the town of Akureyri and Hólasandur. This new generation of lines will lay the foundation for green energy efficiency. Construction is progressing well, but the pandemic has created unique challenges, as we are very dependent on suppliers and the correct and safe delivery of goods and services. Our main task at Landsnet is to provide the entire country with a safe and secure electricity supply. Development of this kind requires extensive planning and coordination as we strive to further develop the transmission system in the most efficient way possible. The agreement we signed with the Nordic Investment Bank is favourable, both for us and our customers."

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