Macquarie’s Green Investment Group (GIG) has reached financial close on the three onshore wind farms located in Norway and Sweden.
The three projects include 43 MW Hornamossen wind farm located in Sweden’s Jönköping municipality, 47 MW Tysvaer wind farm in Rogaland county, southwestern Norway and 79.8 MW Buheii wind farm in Kvinesdal, southern Norway.
Natural Power has provided technical due diligence on behalf of GIG for a trio of Nordic wind projects.
The two Norwegian projects will provide Eramet Norway’s Norwegian smelters with priced power throughout an 18-year power buy agreement.
“We are delighted to have been able to support GIG, and the lenders, on another landmark transaction in the Nordic region. This represents the third major transaction where we have worked with GIG. Through our review of the projects, we were able to help identify and mitigate the unique challenges which accompany the construction and operation of wind projects in this region, including climatic conditions, site topography and planning constraints. We were also able to help identify the benefits that can be realized in energy yield predictions by considering the projects as a portfolio, rather than individual sites.”Neil Marshall, senior project manager at Natural Power.
Now that the financing has been completed, Natural Power will continue to support the portfolio by acting as the lender’s technical advisor on all three projects.
“Working on behalf of the lenders, we will draw on our knowledge of the projects from the due diligence phase and our industry expertise to provide technical advice. We will provide construction and operational monitoring on behalf of the debt finance to ensure that the projects are progressing in line with their contracts and delivered in line with the programme schedule.”Shane Bermingham, engineering design lead at Natural Power.