DLA Piper has advised Irish renewable energy investment firm NTR on a power purchase agreement (PPA) with a European utility as part of its financing of 94MW of wind projects in Sweden and Finland.
The utility will offtake 70% of the power generated over the next 15 years by Trattberget, a 69MW 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 10MW 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 €37 million of debt facilities to the portfolio of three projects, which became operational between 2009 and 2014.
The Irish NTR is a sustainable infrastructure investor and asset manager that acquires, constructs and manages renewable energy projects. NTR has constructed and operated 2GW of wind projects and 630 MW of solar projects across Europe and the US.
The DLA Piper team was led by Global Co-Chair of Energy and Natural Resources Natasha Luther-Jones (Picture), Stockholm-based partner and Head of Finance and Projects in Sweden, Björn Sjöberg, and Vienna-based Finance & Project partner Andreas Gunst.
Law Firms: DLA Piper;
Clients: NTR plc;