Reichmuth Infrastructure II Cip joins as co-investor in the €115 million financial close of Ntr (an Ireland-based company engaged in developing and operating a portfolio of wind project) 86MW Norra Vedbo wind farm located in the county of Jönköping, in Southern Sweden. Reichmuth is investing alongside Ntr’s Renewable Energy Income Fund II, while Skandinaviska Enskilda Banken (Seb), is providing debt finance.
The Norra Vedbo project consists of 20 Vestas V150 turbines, each with an installed capacity of 4.3MW. Ntr has signed a ten-year clean energy power purchase agreement for the project. The project is expected to commence operations in quarter four of 2022 and will produce enough clean power to serve the annual consumption of c. 44,000 households.
Legal advisors on the transaction to Ntr were Dla Piper, while advisors to Reichmuth Infrastructure and Seb were Bird & Bird and Mannheimer Swartling. EY acted as financial advisor to NTR on the co-investment transaction.