The 10-year maturity loan will help finance six new generators and turbines for the energy company’s Rånåsfossen hydropower plant. This will increase annual production by 60GWh. At the Rendalen hydropower plant, a new station is to be built adjacent to the old one, increasing the energy output by 40GWh annually.

The loan will also be used to finance a new district heating plant in Lillestrøm, which will produce 150GWh per year.