Brussels, 22/11/2004 (Agence Europe) - The European Investment Bank (EIB) signed three loans totalling EUR 157 million on Friday 12 November 2004 in Iceland. These loans will serve to finance the construction and operation of two geothermal electricity generation and transmission facilities in the Southwest of Iceland by the country's three largest energy companies: Landsvirkjun (EUR 50m), Reykjavik Energy (EUR 77m) and Hitaveita Sudurnesja (EUR 30m). These loans will serve to finance the construction and operation of Electricity will also be supplied to the municipal distribution grids in the Southwest of Iceland as well as to the national power grid. The geothermal plants will also produce heat - in one case for district heating and in the other to meet new industrial requirements.
. Electricity will also be supplied to the municipal distribution grids in the Southwest of Iceland as well as to the national power grid. The geothermal plants will also produce heat - in one case for district heating and in the other to meet new industrial requirements.