UK renewables consultancy Natural Power has advised NTR on the 200MW acquisition of operational and pre-construction onshore wind projects in Sweden and Finland.
The Vindin portfolio, valued at more than €180m, has been added to the NTR Renewable Energy Income Fund II.
Natural Power’s work on Vindin included visiting all sites individually and providing detailed due diligence, including reviewing agreements concerning turbine servicing, asset management, grid connections and concessions, power purchase agreements, turbine technology and forecasted operational expenditure.
Natural Power also advised on an outline construction programme and assessment of development risks for the pre-construction project.
NTR acquired the portfolio projects from a consortium of Swedish industrial companies.
The Vindin portfolio comprises three operational projects totalling 94MW and one advanced stage development cluster totalling a potential 108MW capacity in southern Sweden.
The three operational projects, Trattberget (69MW) located in the Ornskoldsvik municipality in northern Sweden, Skutskar (10MW) at the Swedish town’s port in Medora Bay and Svalskulla (15MW), in the Ostrobothnia region of Finland, came into operation at various dates between 2009 and 2014.
Natural Power has been increasingly active in supporting clients across the Nordic region, in areas of pre-construction, construction and advisory services.
Natural Power country director for Ireland Marc Lamphiere said: “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.”
Natural Power director of due diligence Giles Dearden said: “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.”
NTR expects to bring the development project cluster, Norra-Vedbo, into operation in 2021.
NTR will put in place long-term power price contracts for the Swedish projects.
Svalskulla benefits from the Finnish feed-in tariff subsidy scheme.