NTR Invests in Trendy Northern Markets
Image: NTR“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.”
NTR acquired the portfolio of just over 200MW of operational and pre-construction onshore wind projects in Sweden and Finland for a sum of €180 million to add it to its NTR Renewable Energy Income Fund II, for which a fundraising first close was recently announced. The portfolio comprises three operational projects totalling 94MW and one advanced stage development cluster totalling 108 MWpotential capacity in southern Sweden.
NTR will put in place long-term power price contracts for the Swedish projects, for which there is considerable demand, given the scale of the portfolio. Svalskulla, the 15MW project located in Finland, benefits from the Feed-In-Tariff programme supported by the Finnish Government. The projects will be financed with project finance debt.
- Source:
- NTR
- Author:
- Windfair Staff
- Keywords:
- NTR, Sweden, Finland, Ireland, portfolio, wind farm, project, investment, sustainable
