Denmark. Norlys Holding A/S
| Date of agreement: | 27 Jun 2024 |
|---|---|
| Country: | Denmark |
| Customer: | Norlys Holding A/S |
| Amount in EUR: | EUR 210 million |
| Maturity: | 3.5 years |
This loan contributes to climate change mitigation: 100%
Financing from NIB Environmental Bond proceeds
NEB-eligible share: 100%
NEB category: Renewable energy
Amount disbursed: EUR 210 million
Note: For loans in other currencies than EUR, the equivalent in EUR is based on the exchange rate effective for the disbursement. Read more about the NIB Environmental Bonds
Project
The loan has been provided to finance Danish energy and telecom company Norlys investments in new wind power capacity during 2023–2027. The financed investments are related to a portfolio of 19 wind projects.
Norlys is Denmark’s largest integrated energy and telecom conglomerate. They are owned by more than 800,000 members and provide energy, EV charging stations, television, internet, and mobile telephony to the Danish people. Norlys owns the country’s largest electricity network, the largest fiber network, and through their ownership of Telia Denmark, half of the country’s largest mobile infrastructure network. Additionally, they own the majority of shares in Norlys Energy Trading and the green, circular industrial park Greenlab, as well as half of Eurowind Energy, a leading developer of solar and wind farms. Norlys has 4,600 employees.
Fulfilment of NIB's mandate
Of the planned 19 projects, five are in NIB’s member country area, in Denmark and Sweden. Once finalised, they will increase total generation capacity by 159,8 MW and produce 436 GWh. The other 14 projects are located outside the member area but in countries bordering it. This means some of the production capacities will also indirectly impact member countries through the interconnections between countries.
Wind power is one of the most sustainable ways to produce electricity. It is predicted that the projects will generate a total of 941 GWh renewable energy annually.
Sustainability summary
No significant negative sustainability impacts have been identified in relation to the loan. The projects part of the investments have the necessary environmental permits in place.