- The acquired portfolio comprises of three completely operational projects as well as one advanced-stage development cluster.
- The total investment, including the capital for the development cluster’s build out, is expected to be over €180 million.
NTR plc (NTR), an Irish renewable energy company, has reportedly announced that it has acquired new wind portfolios in Finland and Sweden comprising of three operational projects with a total capacity of 94 megawatts (MW).
Reports cite, apart from the three operational projects, the company has also acquired an advanced-stage development cluster with a potential capacity of about 108MW in southern Sweden.
According to a press release by NTR, the total capital investment, which also includes the 108 MW capacity development cluster build out, is projected to be more than €108 million. The acquisition follows the company’s two recent announcements where its NTR Renewable Energy Income Fund II acquired about 55MW of wind & solar projects in France and the United Kingdom.
The Irish company procured the projects, dubbed Vindin, from a consortium made up of nine industrial companies from Sweden. Three of the projects in the portfolio commenced their operations between 2009 & 2014.
The Chief Investment Officer, NTR plc, Manus O’Donnell, stated that both Finland and Sweden represent thrilling new geographies for the company, each possessing its own ambitious targets of renewable energy generation and an economic outlook that is stable. O’Donnell further added that this portfolio offers an attractive amalgamation across all the development lifecycle, aligning with the fund’s strategy of using already up & running projects to compliment the ones in development.
Reports claim, the company would be setting up long-term contracts of power price for the projects in Sweden, which have a significant amount of demand considering the scale of the acquired portfolio.
According to reports, the company expects to bring the development cluster, named Norra-Vedbo, to operation by 2021.