NTR achieves commercial operation at 86MW Norra Vedbo Wind Farm and confirms corporate PPA with Microsoft
Norra Vedbo Wind Farm, located in the Jönköping and Aneby Municipalities of southern Sweden
The 20-turbine onshore facility utilises rock anchor foundations to lower carbon embodiment by 27%
Reichmuth Infrastructure Fund co-invested in project, with debt finance provided by SEB
Dublin, November 16, 2022: NTR, a leading sustainable infrastructure investor and asset manager, today announced that it has achieved commercial operation on schedule at its 86MW Norra Vedbo onshore wind farm located in the SE3 energy price region in southern Sweden. The €115m project is supported by a co-investment from Reichmuth Infrastructure Fund alongside the NTR REIF II Fund, while Skandinaviska Enskilda Banken AB (SEB) provided debt financing.
The Norra Vedbo site consists of 20 Vestas V150 turbines, each with an installed capacity of 4.3MW, and brings a total of 198MW of wind farms managed by NTR in the Nordic market, securing critical energy supply and contributing towards decarbonisation objectives in the region. Combined, it is estimated that the projects will produce enough clean power to serve the annual consumption of approximately 69,000 households.
The Norra Vedbo facility makes use of innovative rock anchor foundations that take advantage of the unique geophysical landscape. The selection of a rock anchor foundation on the project requires 70% less concrete, resulting in a reduction of over 1,600 tonnes of CO2 emissions – a 27% drop in CO2 emissions in comparison to standard concrete gravity foundations.
NTR has also signed a corporate power purchase agreement (PPA) with Microsoft for the provision of a portion of the clean energy from the Norra Vedbo wind project. The long-term PPA assists in financing this additional electricity generation capacity and contributes towards Microsoft offering energy efficient computing services for the use of government and business customers in the region.
Additionally, a portion of the wind farm’s operational revenue will contribute towards the Norra Vedbo community benefit fund, which will deliver grants to support local businesses, groups, and community initiatives. The fund will become active in 2023.
Vestas supplied the wind turbines, Kanonaden Entreprenad AB acted as the civil contractor, Lapplands Elnät as electrical contractor, and Natural Power as owners engineer. The power distribution grid is managed by E.on.
Liam Lyng, Associate Director, Construction at NTR commented:
“We are pleased to have started commercial operations on what is our fourth active wind project in the Nordic region, which brings a total of 198MW of wind energy, displacing almost 7,040 tonnes of CO2 emissions per year. This is a fantastic project which positively impacts the local community not only through the provision of clean energy but also through our contribution toward the Norra Vedbo community benefit fund. Alongside our co-investment with Reichmuth Infrastructure Fund and long-term corporate PPA with Microsoft, NTR is committed to supporting Sweden through the green energy transition with innovative projects that will help to ensure future energy security for the region.”
Nicolas Wyss, Head of Infrastructure Investment at Reichmuth added:
“We are pleased that the construction of the Norra Vedbo wind farm could be carried out as planned, and that the wind farm has started commercial operations, despite aggravating circumstances such as COVID-19 and the associated supply chain disruptions. This project will contribute to the energy transition and reaching of net zero as well as strengthen Sweden’s security of supply.”
Martin Höhler, CEO of E.ON Energidistribution, concluded:
“At E.ON we are very proud to connect this large scale wind farm to the grid. There is a great need for more green energy production in the SE3 energy price region. Norra Vedbo will play an important role in allowing for further sustainable growth and large-scale electrification.”
ENDS
Enquiries:
Gilly Lock / Genevieve Ryan
Powerscourt
Telephone: +44 (0) 20 7250 1446
Email: ntr@powerscourt-group.com
About NTR
Established in 1978, NTR is an experienced sustainable infrastructure investor and asset manager driving Europe’s clean energy transition. NTR develops, constructs, and operates renewable energy projects in over 50 locations across six European countries, specialising in wind, solar and energy storage. With approximately €1.2 billion of capital deployed, NTR has developed, constructed, and operated close to 3GW of wind, solar and energy storage projects to date.
NTR’s mission of developing, constructing, and operating sustainable infrastructure in a responsible manner means that we incorporate an ESG mindset into every stage of the business. From initial investment assessment through to operational projects, NTR aims to have a positive impact on the environment and society while maintaining strong governance and risk management oversight.
For more information please visit: www.ntrplc.com
About Reichmuth
Reichmuth Infrastructure is a specialized asset manager, focusing on infrastructure investments in the sectors of renewable energy, transportation and circular economy since 2012. Reichmuth Infrastructure offers its clients sustainable investment solutions meeting highest social and environmental standards combined with attractive, longterm returns. Reichmuth Infrastructure manages EUR 1.5 billion across three diversified infrastructure funds and segregated accounts. The interdisciplinary team consists of eighteen professionals with diverse backgrounds in investment management, private markets and various industrial sectors.