LINJA AS

Linja AS is an electricity distribution network company (DSO) operating in Western Norway. It is responsible for the safe and reliable distribution of electricity to residential, commercial and industrial customers in Møre og Romsdal and Sogn og Fjordane counties, primarily in the mid‑western NO3 bidding zone with some exposure to NO5. Based near Ålesund, the company supplies around 170,000 residents over a power grid of approximately 12,500 kilometres. Linja plays a key role in meeting rising regional electricity demand and supporting Norway’s broader energy and climate objectives, including electrification of transport and other end‑uses. Linja is an associated company of regional utility Sogn og Fjordane Energi (SFE) and is primarily owned by Tafjord Kraft, Tussa Kraft AS and Sogn og Fjordane Energi AS, all publicly owned utilities. SFE holds about 33.3% of Linja, with Tafjord Kraft and Tussa Kraft owning roughly one‑third each. Linja’s regulated grid activity provides stable, long‑term cash flow exposure for its owners and represents part of Norway’s wider network of distribution operators, among which Linja accounts for a mid‑single‑digit share of national connection points. The company is executing a substantial, multi‑year grid investment programme. Between 2022 and 2026, total investments of about NOK 456 million include new overhead lines, substations and refurbishment of existing infrastructure in Møre og Romsdal. A 2023 NOK 200 million loan from the Nordic Investment Bank (NIB) co‑finances these works to expand distribution capacity, reduce outages and facilitate transport electrification. A further NOK 700 million NIB Environmental Bond‑financed loan in 2025 supports upgrading network voltage from 66 kV to 132 kV and the installation or upgrading of six to seven substations, increasing network capacity by around 60 MW and reducing losses and service interruptions. Linja has also sponsored subsea projects such as a 7‑kilometre 24 kV submarine cable in Hyefjorden, installed by Nexans to strengthen supply from local hydropower plants in Gloppen. These investments are assessed as aligned with EU Taxonomy criteria for climate change mitigation and with Norway’s 2030 emissions‑reduction and energy‑efficiency targets.