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    NTR Completes Project Financing for Norra Vedbo Wind Farm in Sweden


    November 17, 2022 - Marketline - Deals

     

      Deal In Brief

      NTR, a sustainable infrastructure investor and asset manager, has announced that it has achieved commercial operation on schedule at its 86MW Norra Vedbo onshore wind farm located in the SE3 energy price region in southern Sweden. The €115m project is supported by a co-investment from Reichmuth Infrastructure Fund alongside the NTR REIF II Fund, while Skandinaviska Enskilda Banken AB (SEB) provided debt financing. The Norra Vedbo site consists of 20 Vestas V150 turbines, each with an installed capacity of 4.3MW, and brings a total of 198MW of wind farms managed by NTR in the Nordic market, securing critical energy supply and contributing towards decarbonisation objectives in the region. Combined, it is estimated that the projects will produce enough clean power to serve the annual consumption of approximately 69,000 households

      NTR has also signed a corporate power purchase agreement (PPA) with Microsoft for the provision of a portion of the clean energy from the Norra Vedbo wind project. The long-term PPA assists in financing this additional electricity generation capacity and contributes towards Microsoft offering energy efficient computing services for the use of government and business customers in the region

      Additionally, a portion of the wind farm’s operational revenue will contribute towards the Norra Vedbo community benefit fund, which will deliver grants to support local businesses, groups, and community initiatives. The fund will become active in 2023. Vestas supplied the wind turbines, Kanonaden Entreprenad AB acted as the civil contractor, Lapplands Elnat as electrical contractor, and Natural Power as owners engineer. The power distribution grid is managed by E.on

      The total cost of the wind farm is USD119.2 million. The investment per MW is USD1.39 million per MW.

      Deal Type Acquisition
      Sub-Category Asset Purchase
      Deal Status Completed: 2022-11-16

      Deal Participants

      Deal Rationale

      (Republication or redistribution, including by framing or similar means, is expressly prohibited without prior written consent. Marketline shall not be liable for errors or delays in the content, or for any actions taken in reliance thereon.)

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