Renewables Now
Summary
Icelandic public utility Orkuveita Reykjavikur, also known as Reykjavik Energy, is set to receive a EUR-100-million (USD 116.4m) loan from the European Investment Bank (EIB) to upgrade the power distribution networks and geothermal district heating systems in the metropolitan area.
The loan agreement, signed to the benefit of Reykjavik Energy’s subsidiary Veitur Utilities, will help the company meet the rising demand across the rapidly growing capital region. It will allow the extension of existing networks and the renewal of ageing infrastructure, and also support increased geothermal heat production.
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#News#DistrictHeating#GeothermalandGeo-Exchange