Leading renewable energy and infrastructure consultancy, Natural Power has suggested NTR on the 200MW acquisition of operational and pre-construction onshore wind initiatives in Sweden and Finland that has been added to the NTR Renewable Energy Income Fund II. Total capital invested by NTR within the portfolio is anticipated to be in extra of €180 million. NTR acquired the portfolio initiatives, referred to as Vindin, from a consortium of Swedish industrial corporations.
Natural Power attended all websites individually and offered pre-construction yield evaluation alongside turbine inspections for the operational initiatives. The detailed due diligence evaluate included turbine service agreements, asset administration agreements, grid connection agreements (together with grid concession), power buy agreements, turbine technology, project permits, EIA, and forecasted operational expenditure. Natural Power additionally suggested on a top level view development programme and evaluation of improvement dangers for the pre-construction project.
Marc Lamphiere, Country Director of Natural Power Ireland, mentioned: “During the course of the past few years, we have been increasingly active in supporting clients across the Nordic region by providing pre-construction, construction and advisory services. We are delighted to bring our technical advisory experience to bear in supporting the Vindin portfolio acquisition on behalf of NTR, and in supporting its first entry into the region. We have now supported NTR in six countries as it continues to grow its European footprint. The Vindin assets represent a high-quality addition to the existing portfolio.”
Giles Dearden, Director of Due Diligence at Natural Power, mentioned: “We are delighted for NTR on the success of its acquisition. In the last 18 months Natural Power has carried out more than 3GW of transaction advisory and energy yield analysis across the Nordic’s often accommodating complex route to market contracts, volume hedging analysis, weather risk and some of the largest wind turbines deployed in Europe.”
“Sweden and Finland represent exciting new geographies for the fund, each having ambitious renewable energy targets and a stable economic outlook;” mentioned Manus O’Donnell, Chief Investment Officer of NTR. “This portfolio of projects provides an attractive mix across the development life-cycle, in line with our fund’s strategy to complement projects in development with those already up and running.”
The portfolio includes three operational initiatives totalling 94MW and one superior stage improvement cluster totalling a possible 108 MW capability in southern Sweden. The three operational initiatives, Trattberget (69MW) positioned within the Örnsköldsvik municipality in northern Sweden; Skutskär (10MW) based mostly on the Swedish city’s port in Medora Bay; and Svalskulla (15MW), positioned within the Ostrobothnia area of Finland, got here into operation at varied dates between 2009 and 2014. NTR expects to carry the event project cluster, Norra-Vedbo, into operation in 2021.
NTR will put in place long-term power worth contracts for the Swedish initiatives, for which there’s appreciable demand, given the dimensions of the portfolio. Svalskulla, the 15MW project positioned in Finland, advantages from the Feed-In-Tariff programme supported by the Finnish Government. The initiatives shall be financed with project finance debt.
NTR is a sustainable infrastructure investor and asset supervisor that acquires, constructs and manages renewable energy initiatives. NTR has constructed and operated 2GW of wind initiatives and 630 MW of solar initiatives throughout Europe and the US.
Its first fund, NTR Wind 1 LP, was launched in 2015 to spend money on pre-construction onshore wind initiatives in Ireland and the UK. Its second sustainable infrastructure fund, NTR Renewable Energy Income Fund II, is focusing on €500 million and invests in each pre-construction and operational onshore wind and solar initiatives throughout quite a lot of European markets, along with energy storage that’s related to the wind and solar initiatives owned by the fund. NTR not too long ago introduced securing first shut commitments of €229 million. www.ntrplc.com
About Natural Power
Natural Power is a number one impartial renewable energy and infrastructure consultancy that employs 350 employees globally. The firm affords proactive and built-in consultancy, administration and due diligence companies, backed by an modern product vary, throughout the onshore wind, offshore wind, wave, tidal, renewable warmth, solar pv and hydro sectors, while sustaining a robust outlook on different new and rising renewable energy sectors.
Jane Maher, PR and Media
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