Sustainable infrastructure investor and asset manager NTR plc has reached EUR115 million (USD140.33 million) financial close of its 86MW Norra Vedbo wind farm located in the county of Jönköping, in Southern Sweden. Reichmuth Infrastructure II CIP joins as co-investor into the project alongside NTR’s Renewable Energy Income Fund II, while Skandinaviska Enskilda Banken AB (SEB) provides debt finance.
The Norra Vedbo project consists of 20 Vestas V150 turbines, each with an installed capacity of 4.3 MW and once operational, it is estimated that the project will produce enough clean power to serve the annual consumption of up to 44,000 households.
The project is expected to enter operations in the fourth quarter of 2022, and NTR has signed a ten-year clean energy power purchase agreement for the project.
EY acted as financial advisor to NTR on the co-investment transaction. Legal advisors on the transaction to NTR were DLA Piper, while advisors to Reichmuth Infrastructure and SEB were Bird & Bird and Mannheimer Swartling.
