Norwegian Export Credit Guarantee Agency: Offshore Wind Gains Momentum

GIEK (The Norwegian Export Credit Guarantee Agency) has quadrupled its offshore wind portfolio to NOK 4.2bn (USD 453m) since the tail end of last year. With ample capacity and competitive rates, it is actively seeking new business worldwide as part of its mandate to bolster the participation of Norwegian exporters in a burgeoning but capital-intensive sector.

State-owned GIEK manages an international portfolio of export-related guarantees that today totals USD 8.5bn. While its focus has traditionally been oil and gas and shipbuilding followed by fisheries and aquaculture, it has widened its mission to include offshore wind, and more generally banks and investors participating in large international energy-infrastructure projects. “Offshore wind is really... ... More: Official Press Release GIEK

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Norway, offshore, wind energy, investment, wind farm, activity, export, company, supplier