NIB lends to the construction of green buildings in Norway

NIB and Norwegian property owner Entra ASA have agreed a loan of NOK 1 billion (EUR 101 million) with a tenor of ten years to finance the redevelopment of two buildings in Oslo, aiming for “BREEAM In-Use Excellent” certification upon completion.

The loan finances the redevelopment of Tordenskiolds gate 12 and St. Olavs plass 5 in Oslo with the aim of improving the energy efficiency of the buildings to increase the offer value both to owners and tenants.

Both buildings are expected to be aligned with the EU Taxonomy for climate change mitigation and scheduled for completion in Q3 2022. The targeted certification level for both properties is BREEAM In-Use Excellent.

“Buildings are responsible for about 36% of CO₂ emissions in the EU. The imperative to build in a more sustainable, climate friendly way is a mega trend shaping the construction sector. NIB finances green buildings because these properties aim for higher energy efficiency and a smaller environmental footprint”, says André Küüsvek, NIB President & CEO.

Entra is a leading owner, manager and developer of office properties in Norway. As of September 2021, Entra’s portfolio consisted of 96 properties, located in Oslo, Bergen, Trondheim and Stavanger. Entra is also a major issuer of bonds in the Norwegian market.

NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.

For further information, please contact:

Ms Sari Cabell, Senior Banker, at +358 10 618 0519, sari.cabell@nib.int

Ms Lisa-Maria Altenberger, Communications unit, at +358 10 618 0234, lisa-maria.altenberger@nib.int