SEV has signed a DKK250 million (US$33.4 million) loan agreement with Nordic Investment Bank (NIB) for the 70 MW Myruverkio II pumped hydroelectric storage project in Vestmanna, Faroe Islands, Denmark. This agreement has a tenor of 15 years.
SEV has entered into further loan arrangements with several financial institutions and insurance firms in the Faroe Islands, the Nordic countries, and the USA in addition to the agreement with NIB.
Myruverkio II project is anticipated to be completed in 2027-2028.
Country updates
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August 10, 2022
PD&MS secures contract to support Vattenfall’s European operations
The Aberdeen-based PD&MS Group has signed an operations and maintenance (O&M) contract with Vattenfall to support the company's European offshore wind portfolio for three years. The financial...
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July 12, 2022
Eurowind Energy to develop Danish hybrid wind-solar complex
Eurowind Energy, a Danish renewable energy company, has announced its plans to install solar panels and wind turbines at five different locations in Denmark. The company has identified energy centers...
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July 12, 2022
Minesto commissions 100 kW Dragon 4 tidal kite in Faroe Islands
Minesto AB has announced that its first Dragon 4 tidal power unit has been successfully operational in Vestmannasund, Faroe Islands. The facility achieved satisfactory electricity production and veri...
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July 11, 2022
Nordic Solar enters deal for the construction of 220 MWp solar projects in southern Sweden
Nordic Solar A/S has entered into an agreement with Helios Nordic Energy AB for the development of four solar photovoltaic projects with a combined capacity of 220 MWp located in southern Sw...
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June 27, 2022
Sungrow to supply solar inverters for 320 MW solar complex in Denmark
Sungrow has entered a contract with BeGreen to supply solar inverters for the Brilliant Project in Denmark.
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