NTR has signed a power purchase agreement, with a European utility as part of its financing of 94 MW of wind projects in Sweden and Finland.
The utility will offtake 70% of the power generated over the next 15 years by Trattberget, a 69 MW wind project in the portfolio. The power produced by the remaining two projects will continue to avail of existing revenue arrangements. An existing offtake arrangement is in place with an industrial pulp mill for the 10 MW Skutskär project in Sweden and the 15MW Svalskulla wind project avails of the Finnish feed-in-tariff system.
Nord/LB was mandated by NTR to provide EUR37 million (US$37.53 million) of debt facilities to the portfolio of three projects, which became operational between 2009 and 2014.
DLA Piper and Pexapark provided legal and commercial advice respectively to NTR.
