Irish renewable energy developer and investor NTR Plc today said it has started up an 86-MW wind farm in Sweden and acquired a 70-MWp ready-to-build solar farm in the UK.
NTR’s Norra Vedbo onshore wind farm in southern Sweden will provide a portion of its generation to Microsoft (NASDAQ:MSFT) under a long-term corporate power purchase agreement (PPA), the developer confirmed.
The EUR-115-million (USD 119.7m) wind park features 20 Vestas turbines of 4.3 MW each, installed on rock anchor foundations.
The project involves a co-investment from Reichmuth Infrastructure Fund alongside the NTR REIF II Fund. Skandinaviska Enskilda Banken AB (SEB) provided debt financing.
NTR said it now manages 198 MW across four wind farms in the Nordic market. Norra Vedbo achieved commercial operation on schedule despite challenges such as the pandemic and related supply chain disruptions, the owners noted.
Separately, NTR said it has acquired the ready-to-build 70-MWp Medebridge solar farm in Essex from the management team of REG Power Management (RPM) and other shareholders.
The project has full planning consent, grid connection and land agreements and is expected to come onstream in the first quarter of 2024. NTR is in discussions to arrange a power purchase agreement (PPA) for it.
“Given its scale and close proximity to London, Medebridge is a uniquely attractive solar project that can be built relatively quickly and meet the urgent needs of corporates seeking clean power alternatives,” according to NTR chief investment officer Anthony Doherty.
RPM chief executive Andrew Whalley said the project will add to the nearby Ockendon solar farm that RPM sold to NTR last year.
(EUR 1 = USD 1.041)
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