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Natural Power advises Green Investment Group on trio of Nordic wind projects

ID: 1558298
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(businesspress24) - Leading renewable energy consultancy and service provider, Natural Power, has provided technical due diligence on behalf of Macquarie’s Green Investment Group (GIG) for a trio of Nordic wind projects.

GIG has reached financial close on the portfolio of onshore wind farms:

- 43 MW Hornamossen wind farm located in Sweden’s Jönköping municipality
- 47 MW Tysvaer wind farm in Rogaland county, south western Norway
- 79.8 MW Buheii wind farm in Kvinesdal, southern Norway

The two Norwegian projects will provide Eramet Norway’s Norwegian smelters with predictably priced power throughout an 18-year power purchase agreement.

Neil Marshall, Senior Project Manager at Natural Power, said: “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 realised in energy yield predictions by considering the projects as a portfolio, rather than individual sites.”

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.

Shane Bermingham, Engineering Design Lead at Natural Power, said: “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.”

In addition to supporting Norwegian industry, GIG is using a number of Norwegian supply chain companies to deliver both Buheii and Tysvaer, bringing new investment into the region and supporting high-value jobs throughout the project’s construction and operations. Around 200 jobs will be supported during the construction of both projects. Hornamossen, which is currently under construction, is due to be completed by end of the year.



Natural Power’s global due diligence team provides services throughout all stages of the transaction cycle, from initial risk assessment and reporting in early transaction stages through to comprehensive reporting for credit-committee or data room presentation at final bid stage or financial close. Find out more here https://www.naturalpower.com/our-services/due-diligence/



More information:
http://https://www.naturalpower.com/our-services/due-diligence/



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published by: RealWire
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Date: 05/22/2020 - 15:37
Language: English
News-ID 1558298
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