NTR acquires wind assets in Sweden and Finland
Total investment expected to be €180 million for 200MW portfolio
The three operational projects acquired by NTR include a 69MW site in northern Sweden, a 10MW project in Sweden’s Medora Bay and a 15MW site in Finland.
The projects include both operational pre-construction assets, with three operational assets totalling 94MW and one development cluster with the potential capacity of 108MW in southern Sweden, which is expected to become operational in 2021.
The three operational projects include a 69MW site in northern Sweden, a 10MW project in Sweden’s Medora Bay and a 15MW site in Finland.
“Sweden and Finland represent exciting new geographies for the fund, each having ambitious renewable energy targets and a stable economic outlook,” said 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 new projects have been added to the NTR Renewable Energy Income Fund II, which is NTR’s second sustainable infrastructure fund.
NTR will put in place long-term power price contracts for the Swedish projects; the Finland based project benefits from the feed-in-tariff programme supported by the Finnish government.