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State-backed Export Credit Guarantee Agency GIEK hits another milestone as it close to doubles its guarantee tally to the burgeoning sector.
Norwegian supplier Aibel is set to supply high-voltage transformer platforms for the North Sea mega-project as it muscles up in offshore wind, while sector newcomer OHT (Offshore Heavy Transports Alfa Lift AS) will deliver freight and installation services using its purpose-built installation vessel Alfa Lift.
GIEK (the Norwegian Export Credit Guarantee Agency) welcomes this decision and considers it to be good news for Norwegian exporters.
Teekay Offshore has secured long-term financing from the Norwegian Government for four new shuttle tankers being built at Samsung Heavy Industries (SHI) in South Korea.
Ukraine is utilizing Norwegian solar power to reduce its use of coal and nuclear energy. The Norwegian state guarantees NOK 145 million of the funding for a new 54 MW solar power plant located south of the capital Kiev. GIEK has provided NOK 1 billion (EUR 100 million) in guarantees for a number of solar projects in Ukraine in 2019.
In June, Brazil’s oil company Petrobras received guarantees from GIEK, the Norwegian Export Credit Guarantee Agency, for a total amount of USD 500 million. The guarantees, covering loans from a number of international banks, will finance services from Norwegian offshore support vessel companies operating on behalf of Petrobras in Brazil.
GIEK has participated in the financing of “Color Hybrid”, the celebrated Ship of the Year at the NorShipping exhibition in June. The ship will be delivered from Ulstein Shipyard in July. 70 per cent of the ship's value consists of deliveries from specialised sub-suppliers in the Norwegian maritime cluster.
GIEK played a key role in financing the vessel, that contains substantial Norwegian exports for the Norwegian shipyard and dozens of sub-suppliers.
June 15 Le Laperouse was delivered, the first cruise ship in a series of several new ships from Vard Group. Vard Søviknes yard now has full capacity utilization, and the group’s shipyards will supply cruise ships to several well-known actors on a continuous basis until 2021. GIEK is central to the funding of all vessels and in the conversion of Norwegian shipyard from mainly offshore vessels to other types of vessels to new markets.