NIB financing helps NTE develop three hydropower projects in Norway

Nord-Tronderlag Elektrisitetsverk Holding (NTE) has obtained a 15-year NOK 340 million (US$42.6 million) loan from the Nordic Investment Bank (NIB) to co-finance three hydropower projects in Norway.

Nord-Tronderlag Elektrisitetsverk Holding (NTE) will use the financing to develop Storaselva hydropower plant, rehabilitate Byafossen hydropower plant and replace the existing dam at Namsvatnet Lake. Specifically, the financed projects are the following:

1.  The 2.4 MW Byafossen small hydropower plant is located in Steinkjer. When commissioned, the facility is expected to produce around 50 GW of clean renewable energy each year.

2. The 26.55 MW Storaselva hydropower project is comprised of three Andritz Hydro's 8.85 MW horizontal Francis turbines, automation system and electrical power systems, associated generators, inlet pipes and cooling systems. The underground facility is built inside Skromoen Mountain, with an intake approximately 1 km west of Mollansetra, 16 km from the city of Snasa and near Blafjella-Skaekerfjella National park. The power plant utilizes the 124-meter-high fall between the intake pool and the station at Skromoen. Once operational, Storaselva is expected to deliver roughly 75 GWh per year.

3. The Namsvatnet Dam will replace existing dam to offer major safety and better water regulation that will benefit eight downstream hydropower plants. The development of the project comprises a 330-meter-long rockfill by 25-meter-high  dam placed at Namsvatnet Lake,  north of the existing dam.