Norway: Statnett obtains 0.3 bln euro loan from EIB for electricity cable to Germany

02/06/2017 16:05 Electricity Market

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Norway's grid operator Statnett obtained a 300 million-euro ($336.33 million) loan from the European Investment Bank to finalize its electricity cable to Germany, according to the company on Friday.

The estimated cost of Nordlink cable is about 2 billion euros, while its capacity is likely to attain 1.4 GW. The link should be accomplished by 2019 and is expected to start operations in 2020.

 

EIB also issued a 350-million-euro loan to Nordlink's German co-constructor Tennet Holding in April. The bank targets to direct 25% of its investments towards climate action relevant projects, as stated by Andrew McDowell, the EIB’s Vice President.

Lower prices drive Asia's demand for LNG as ship fuel

27/10/2020 08:53:00

Globally, LNG is expected to account for 10 per cent of overall marine fuel mix by 2030, up from less than 0.1 per cent last year, he added

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CRE to restructure French nuclear sales scheme

27/10/2020 08:49:00

French energy regulator CRE has proposed to restructure the Arenh nuclear output sale mechanism and rules surrounding its modification and cancellation in response to legal disputes that arose at the height of the Covid-19 crisis.

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Daily (26.10.2020): Carbon prices increased by over 5% on Friday, supported by short-covering and a bullish energy market

26/10/2020 11:45:00

The prices for crude oil decreased on Friday, following Libya's decision to boost its oil output. The price for Brent oil dropped by 1.6% to close at $41.77 a barrel, while WTI crude slumped by 1.9% to trade at $39.85 a barrel.

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