Kommunal Landspensjonskasse (KLP), Norway’s largest life insurance company, and Norwegian financial institution DNB have launched a partnership focused on financing NOK 12 billion ($1.25 billion) in infrastructure and renewable projects.
The projects will include wind farms, solar energy and some hydropower plants — for which financing will be carried out over the next couple of years.
DNB and KLP worked for two years to get the agreement in place.
“For several years, KLP has been aiming to increase investments that promote sustainable development and support our financial goals,” said Aage Schaanning, executive vice president, finance at KLP.
DNB said the partnership is planning to provide loans to finance the projects — many of which will be international. The financial institution finances projects all over the world and is especially active in the Nordics, Europe, North America and South America. A spokesperson from DNB said the purpose is t
