08/07/2009
OECD countries have introduced new and better conditions for the financing of projects in renewable energy and projects for clean water supply. For exports to, among other things, hydro, wind and solar power plants it is now possible to offer longer tenors and more flexible repayment terms than before.
In light of the climate change the OECD countries are seeking to provide better financing conditions for energy production from renewable energy sources. On June 18 2009 an agreement was reached to promote investment in and exports to such projects.As a result of this Eksportfinans can provide loans up to 18 years for these sectors. The terms will be dependent upon satisfactory guarantees. For projects that require additional flexibility, Eksportfinans can add up to 18 months grace period after the commissioning of the power plant. Flexibility is limited by a ceiling on the loan’s so-called "average weighted life".
The new terms may be offered for publicly supported loans with CIRR-interest, and for loans on commercial terms. Eksportfinans requires that all loans are guaranteed by the Norwegian Government or a bank acceptable to Eksportfinans.
The OECD countries have further agreed to continue negotiations in the autumn of 2009. The negotiations will cover a possible extension of the agreement to include climate friendly technologies such as carbon capture and storage, energy efficiency and so-called "smart grids".
Eksportfinans is happy to provide further information for exporters, investors and others. Please contact Mr. Lars Børre Hasle on phone 22 01 22 42 or mail lbh@eksportfinans.no