The reopening of La Banque de Ternat marks a shift towards renewable energy

This week the inhabitants of the Yellow Hill witnessed the reopening of La Banque de Ternat (BdT). The bank originally opened back in 1813 has a long and proud history and is close to many ‘Ternations’ hearts. Unfortunately, during the financial crisis, the bank went out of business in 2009 due to poor management from the previous owners.

Norwegian Development (NorDev) bought the rights to the BdT brand name and has now built a new modern headquarters in Ternat along with a rebranding giving it a modern logo and a focus on business loans over public loans.

NorDev was started as a result of the declining petroleum industry in the North Sea and is therefore extra keen on supporting projects related to renewable energy.

To support the wind turbine initiative from Mayor Allard, La Banque de Ternat will offer interest free loans for construction of wind turbines. This financing project is in cooperation with KHT Engineering which will handle the construction contract.

CEO of BdT, Martin Rolaux, has the following comment to Yellow Hill Morning Post:

“We want to help build a sustainable future for Ternat and as we are an energy importing community we see that renewable energy is an important investment area. Along with offering interest free loans for this project we will also build a wind turbine our self along with our sister company KHT Engineering.”