“We work together with commercial banks to share project risk, so loans will be repaid,” she says, Customers pay risk premium on competitive commercial terms.Offshore wind promises to be a winner for Norwegian suppliers looking to maximize new opportunities in a changing energy landscape – and as activity in offshore oil and gas is projected to slacken after 2020 amid a lack of big new finds.Toward the end of last year, GIEK providing service delivery guarantees totaling NOK 1.3 billion (about $142,2 million) that enabled Norwegian supplier Aibel to clinch two big European contracts. An export credit agency (known in trade finance as an ECA) or investment insurance agency is a private or quasi-governmental institution that acts as an intermediary between national governments and exporters to issue export insurance solutions, guarantees for financing. June 8 (Renewables Now) - Eksport Kredit Fonden (EKF), the export credit agency of Denmark, and Norwegian Export Credit Guarantee Agency (GIEK) are participating in the project financing of the roughly 1.1-GW Seagreen 1 offshore wind park in Scottish waters alongside 12 commercial banks. Norway’s state-owned export credit guarantee agency GIEK is actively seeking offshore wind related new business worldwide as part of its mandate to bolster the participation of Norwegian exporters in the growing, but capital-intensive, sector. You can help stop the spread of coronavirus (COVID-19).Export Credit Norway deals with the entire loan application process, including commitment, disbursement and monitoring of loans. We assist both small and large enterprises and would be happy to support you in your sales process.Briefly, what type of stock or trade are you looking to finance? GIEK - The Norwegian Export Credit Guarantee Agency | 1,864 seguidores no LinkedIn | Vi garanterer for norsk eksport | From Norway to the World | GIEK is the Norwegian Export Credit Agency.
Norway’s long-term, government-backed export financing system consists of two actors: Export Credit Norway AS, which provides loans, and the Norwegian Export Credit Guarantee Agency (GIEK), which issues guarantees. GIEK - The Norwegian Export Credit Guarantee Agency | 1,840 abonnés sur LinkedIn | Vi garanterer for norsk eksport | From Norway to the World | GIEK is the Norwegian Export Credit Agency. Norway’s state-owned export credit guarantee agency GIEK is actively seeking offshore wind related new business worldwide as part of its mandate to bolster the participation of Norwegian exporters in the growing, but capital-intensive, sector.The agency’s focus has traditionally been oil and gas and shipbuilding followed by fisheries and aquaculture, but it has quadrupled its offshore wind portfolio to NOK 4.2 billion ($453 million) since the end of last year.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 gaining momentum and is a great example of how we can actively help Norwegian industry rechannel by opening the door to new markets for existing wind expertise and other companies looking to extend their reach into green technology,” says GIEK chief executive Wenche Nistad.“By choosing a Norwegian supplier you can count on receiving good financing from GIEK in support of the purchase,” she says, highlighting recent contracts won by companies such as Nexans Norway, Aibel and Fred Olsen Windcarriers.GIEK’s core offering are AAA-rated guarantees for long-term loan financing, as well as contractual delivery guarantees that protect both buyers and suppliers in case of default.The triple A-rated instruments are a key tool in reducing the cost of project financing, says Nistad. Export Credit Norway provides a powerful sales tool: competitive, medium- to long-term financing directly linked to your prospective export contract.
Norwegian export credit guarantee agency GIEK’s investment portfolio has started shifting markedly toward renewable energy, spearheaded by the country’s rapidly-expanding offshore wind sector, but it will still “take some time” for the scales to tip… Just in recent weeks it provided guarantee coverage amounting to around NOK 1.6 billion (about $175 million) that helped cables specialist Nexans Norway secure a major contract with the Seagreen offshore wind farm under development off Scotland.In terms of risk capital, GIEK financing serves to extend the capacity of banks. Operating since 1 July 2012, the Credit Agency now has more than 45 employees.Export Credit Norway offers loans with two different sets of interest terms: fixed-rate Commercial Interest Reference Rate (CIRR) loans and CIRR-qualified market loans with variable rates. “We can provide guarantees to anyone involved in putting together a wind project, and we are very competitive compared to what is available internationally,” Nistad says.“We don’t calculate an amount based on a mathematical model. Export Credit Norway provides a powerful sales tool: competitive, medium- to long-term financing directly linked to your prospective export contract. Norway’s long-term, government-backed export financing system consists of two actors: Export Credit Norway AS, which provides loans, and the Norwegian Export Credit Guarantee Agency (GIEK), which issues guarantees. Both types of loans may be disbursed in all OECD currencies, and both comply with the OECD Arrangement on Officially Supported Export Credits.Export Credit Norway, Norway – Annual Report (PDF) – 2017 – Export Credit Norway | Export Credit Agency (ECA) in Norway The rule of thumb is basically, the more you consider buying from Norway, the more you can count on getting guarantees from GIEK.”We provide a platform to showcase your business and connect with your customers. Staying at home saves lives. Export Credit Norway offers loans with two different sets of interest terms: fixed-rate Commercial Interest Reference Rate (CIRR) loans and CIRR-qualified market loans with variable rates.