{"id":2535,"date":"2021-05-21T07:57:17","date_gmt":"2021-05-21T05:57:17","guid":{"rendered":"https:\/\/norfund.wpenginepowered.com\/annualreport-2020\/?page_id=2535"},"modified":"2025-06-04T12:06:43","modified_gmt":"2025-06-04T10:06:43","slug":"note-11-2","status":"publish","type":"page","link":"https:\/\/reports.norfund.no\/annualreport-2024\/annual-report\/notes\/note-11-2\/","title":{"rendered":"Note 11 – Other receivables"},"content":{"rendered":"
\n\t\t\t\t\n\t\t\t\t\t

Note 11<\/h4>\n\t\t\t\t\t

Other receivables<\/h3>\n\t\t\t\t<\/span>\n\t\t\t\t<\/span>\n\t\t\t<\/a>
  1. Accounting policies<\/a><\/li>\n
  2. Segment information<\/a><\/li>\n
  3. Exited investments<\/a><\/li>\n
  4. Realized losses and value changes<\/a><\/li>\n
  5. Personnel and pension costs<\/a><\/li>\n
  6. Fixed assets<\/a><\/li>\n
  7. Other operating expenses<\/a><\/li>\n
  8. Net financial items<\/a><\/li>\n
  9. Taxes<\/a><\/li>\n
  10. Equity<\/a><\/li>\n
  11. Other receivables<\/a><\/li>\n
  12. Investments<\/a><\/li>\n
  13. Liquidity placements<\/a><\/li>\n
  14. Bank deposits<\/a><\/li>\n
  15. Unused resources<\/a><\/li>\n
  16. Current liabilities and guarantees<\/a><\/li>\n
  17. Risk management and use of financial instruments<\/a><\/li>\n
  18. Events after balance-sheet date<\/a><\/li>\n<\/ol><\/div><\/div><\/div><\/div>\n\n
    Other receivables<\/th><\/tr>
    (Figures in 1000s of NOK)<\/th>2024<\/th>2023<\/th><\/tr><\/thead>
    Accrued interest loans<\/td>182,645<\/td>146,545<\/td><\/tr>
    Accrued interest liquidity placements and vendor credit<\/td>130,816<\/td>127,205<\/td><\/tr>
    Vendor credit<\/td>2,360,281<\/td>2,042,448<\/td><\/tr>
    Other assets<\/td>62,470<\/td>46,603<\/td><\/tr>
    Total other receivables<\/td>2,736,212<\/td>2,362,800<\/td><\/tr><\/tbody><\/table><\/div><\/div>\n\n\n

    Other receivables consist mainly of interest-bearing vendor credit and accrued interest.
    Of vendor credit of NOK 2\u00a0360 million, NOK 2\u00a0271 (USD 200 million) is associated with Scatec, and is a result of the sale of SN Power. The vendor credit has an interest rate of 3.26% + SOFR up to January 2028. After this the rate increases to 30%. The vendor credit falls due in its entirety in January 2028, with a small repayment of USD 30 million in June 2025. <\/p>\n\n\n\n

    Accounting principles<\/h4>\n\n\n\n

    Other receivables are carried at the lower of acquisition cost or fair value. A loss allocation is made in the cases where fair value is lower than acquisition cost. Receivables in forex are valued at the exchange rate at the end of the financial year in accordance with Section 5-9 of the Norwegian Accounting Act. Currency effects associated with outstanding vendor credit appear in the accounts under \u201cValue changes investments and receivables\u201d. Interest is recorded as and when it is estimated to be earned and appears as interest income in the income statement. In the event of known losses, recorded interest is reversed. When loans to development projects are classified as problem loans and written down, a decision is taken that interest should not continue to be recorded. When loans are written down, no interest is therefore taken to income.<\/p>\n","protected":false},"excerpt":{"rendered":"

    Other receivables consist mainly of interest-bearing vendor credit and accrued interest.Of vendor credit of NOK 2\u00a0360 million, NOK 2\u00a0271 (USD 200 million) is associated with Scatec, and is a result of the sale of SN Power. The vendor credit has an interest rate of 3.26% + SOFR up to January 2028. After this the rate […]<\/p>\n","protected":false},"author":5,"featured_media":0,"parent":2101,"menu_order":9,"comment_status":"closed","ping_status":"closed","template":"","meta":{"norfund_header_layout":"","norfund_header_layout_image_id":0,"norfund_header_layout_image_focal_point_x":0,"norfund_header_layout_image_focal_point_y":0,"norfund_header_layout_suptitle":"","norfund_header_layout_subtitle":"","norfund_header_layout_title":"Notes","teft_cards_image_id":0,"teft_cards_image_focal_point_x":0,"teft_cards_image_focal_point_y":0,"teft_cards_title":"","teft_cards_excerpt":""},"acf":[],"yoast_head":"\nNote 11 - Other receivables | Annual Report 2024<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/reports.norfund.no\/annualreport-2024\/annual-report\/notes\/note-11-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Note 11 - Other receivables | Annual Report 2024\" \/>\n<meta property=\"og:description\" content=\"Other receivables consist mainly of interest-bearing vendor credit and accrued interest.Of vendor credit of NOK 2\u00a0360 million, NOK 2\u00a0271 (USD 200 million) is associated with Scatec, and is a result of the sale of SN Power. 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