Companies & Finance

EIB offers €100 mln support to Germany-Norway power link

The EIB has signed a €100 million financing agreement with Dutch-owned TSO TenneT
By Staff reporter 14 August 2018 0 32146

The European Investment Bank (EIB) has signed a €100 million ($114.1 million) financing agreement with Dutch-owned transmission system operator TenneT to support the construction of an electricity interconnector between Norway and Germany, the European Commission said on Tuesday.

The commission said the agreement is backed by the European Fund for Strategic Investments (EFSI).

The 1.4 GW interconnector would link Germany and Norway across the North Sea.

The financing agreement consists of hybrid bonds that the EIB has purchased from TenneT.

The EIB has previously committed a total of €650...