Port-cranes

Port transition financing

Ports are one of the key players in the green maritime shift. Ports emissions constitutes other sources in addition to emissions from the vessels laying a long side the key. It is potentially a huge effect of port transition financing.

It is more and more evident that the ports will be instrumental for this process.

Common for all alternatives fuels is that they will require more frequent bunkering and that it will also require a much more diverse and granular infrastructure at shore.

In addition, more traditional (energy)ports (import/export of oil/gas/coal) will gradually need to change their activities as these products are phased out.

Traditional green financing has generally focused on direct environmental investments such as shore power and alternative fuels.

The more comprehensive transitions based on the more long-term and overall investments have traditionally had less focus.

Such transitions will need to be supported by a broader specter of investments, investments that not necessary only are related to the environment and climate, but also will facilitate more general transitions following the changes in the industry.

KLP is the overseeing partner for the project. Additional partners are listed to the right. Additional contributors to the pilot project is: Port of Tromsø and Port of Hammerfest.

Goal of pilot project

With this pilot, KLP and the partners wish to bring forward a general framework for transition financing of ports.

  • The goal for the pilot is to develop a framework that can be used by all relevant finance institutions.
  • The framework shall form a template that contributes to give a reference for the criteria for future financing.

Status

The pilot started February 2022 – the goal is to deliver a conclusion by the end of this year.

Several introduction meetings with KLP, the overseeing partner, the participating partners, DNV and the pilot coordinator have been carried out. Kick-off meeting for all participating partners and additionally two pilot meetings have been carried out.

Ongoing work (April 2022) is related to developing the KPI’s and the performance indicators that will form the basis for the decisions for finance support.

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