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.
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– Export financing is a very useful instrument, says Per Knutsen, general manager of Drammen Yard. In 2015 GIEK issued a guarantee of NOK 16.8 million in connection with the sale of offshore cable carousels to the company’s Swedish sister company, Drammen Yards Leasing, which leases out the carousels in EU and world markets. The guarantee covers loans from Export Credit Norway.
- GIEK is a very important partner for us on international projects. The financing solutions we devise with GIEK make it easier to take our share of the risk, says Vibeke Solberg Forås, General Manager Business Banking Sparebank1 SMN.
- GIEK and Export Credit Norway were crucial to seal this deal, allowing us to pursue our international strategy, says Skjalg Sylte Stavheim, CEO Hexagon Ragasco AS.
– We greatly appreciate the good cooperation we’ve had with GIEK, and we have achieved a lot together. GIEK makes sure Norway is contributing to the crucial development of renewable electricity supply in developing countries. GIEK is an essential partner for us to succeed with our growth strategy for the period to 2020, says Scatec Solar CEO Raymond Carlsen.
– The offer of export financing is important for Element Logic and is used in the sales process with potential customers.
Export financing is often essential to getting projects under way, says Dag-Adler Blakseth, CEO of Element Logic.
– Loans and guarantees from Export Credit Norway and GIEK have been crucial in obtaining quick and solid financing for the project,” says Ole Henning Christiansen, the CEO of Safelink AS.
- When Myanmar opened up to the outside world in 2011, Bergen Engines and the Rolls-Royce group wanted to gain access to this chartered market – with our gas engines, says Merethe Fjeldstad, Bergen Engines.