Landsnet signs loan agreement with Nordic Investment

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Landsnet and the Nordic Investment Bank (NIB) signed a US $ 50 million loan agreement to finance the construction of the Krafla Line 3 and Hólasandur Line 3. This new generation of lines has been designed to improve energy efficiency, capacity and reliability of electricity supply both locally and for the entire transmission system.

Guglaug Sigurdardottir, CFO, made the following statement:

“We are delighted 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 Fljotsdalur, and Hólasandur 3, which will connect Akureyri and Kholasandur. This new generation of lines will lay the foundation for more sustainable energy efficiency. Construction is going well, but the pandemic has created unique challenges as we are highly dependent on suppliers and the correct and safe delivery of goods and services. Our main focus at Landsnet is to provide a safe and reliable electricity supply throughout the country. Development of this kind requires careful planning and coordination as we strive to further develop the transmission system in the most efficient way possible. The agreement we have signed with the Nordic Investment Bank is good for us. and our clients ”.

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