The Nordic Investment Bank (NIB) has signed a loan agreement totalling NOK1B (EUR 133M) with Sparebank 1 SMN for on-lending to small and medium-sized hydropower enterprises in Norway.

The 15-year-maturity loan programme is earmarked to finance Sparebank 1 SMN’s hydropower projects, most of them between 1MW and 5MW. The loan programme will cover new hydropower projects and upgrading of existing plants during 2012-2013.