February 4 (Renewables Now) - Irish utility NTR Plc has agreed to sell electricity from a portion of a 94-MW wind portfolio in Sweden and Finland to an unnamed European sector player, it said on Monday.
The power purchase agreement (PPA) was signed as part of a funding round related to the specific portfolio. The contract will see the Irish company sell around 70% of the output of its 69-MW Trattberget project in Sweden for a period of 15 years. The output of the Skutskar project, a 10-MW wind farm in Sweden, will be sold through an existing revenue arrangement with an industrial pulp mill. A contract is also in place for the 15-MW Svalskulla wind park in Finland, the third project in the bundle that is getting support under the country’s feed-in tariff (FiT).
The three wind farms were commissioned between 2009 and 2014. The fresh financing for them was provided by Nord/LB in the form of a EUR-37-million (USD 40.9m) debt facility.
NTR’s legal advisor in the deal was DLA Piper, with Pexapark serving as commercial counsel.
(EUR 1.0 = USD 1.106)