Press Release

Macquarie Asset Management makes €178 million debt investment in Norwegian ferry operator Fjord1

Oslo, 25 April 2022

Macquarie Asset Management, on behalf of its institutional clients and managed funds including Macquarie European Infrastructure Debt Fund, has provided €178 million of debt financing to Norway’s largest ferry and high-speed passenger boat operator Fjord1, as part of the company’s NOK 6.5 billion refinancing agreement with lenders.

Fjord1 owns and operates more than 80 ferries and express boats in Norway, transporting 16 million passenger vehicles annually. The company is one of the most environmentally friendly ferry operators in the world, with more than 40 per cent of its fleet consisting of hybrid-electric vessels powered by battery technology.

Macquarie Asset Management was the cornerstone investor in the process.

Tom Van Rijsewijk, a Managing Director at Macquarie Asset Management, said: “Ferries and express boats are an integral mode of transport for travellers along Norway’s extensive coastline, connecting communities and visitors across almost 2,000 rugged fjords and islands. We are pleased to have helped lead this refinancing, which will support Fjord1 to cement its leadership position in Norway, and further reduce its environmental footprint by investing in low-emission and zero-emission technologies.”

Dagfinn Neteland, Chief Executive Officer of Fjord1, said: “The Norwegian ferry industry is a world leader in technology, vessel quality, environmental footprint, and safety, and as such, significant investment is required to continue to convert it to green technology and fully electrify local routes. Fjord1 is pleased to have reached an agreement with our investors for this refinancing and are confident that with the backing of Macquarie and others we will be well positioned to successfully build on our strategy for green growth.”

Over the past 12 months, Macquarie Asset Management has provided the equivalent of more than €2.8 billion in debt financing to the infrastructure and renewable energy sectors, of which €1.4 billion was Euro-denominated.


About Fjord1

Fjord1 aims to be the safest and most attractive provider of environmentally friendly and reliable transport for customers, clients and partners. Fjord1 is a leading player in the Norwegian ferry market, with close to 80 ferries. The company also operates passenger boat services and has interests in the catering and tourism industries. More information at

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