Setterwalls has advised Norddeutsche Landesbank Girozentrale (Nord) LB on the 37 MEUR refinancing of the 94MW wind project portfolio VindIn

Setterwalls has advised Norddeutsche Landesbank Girozentrale (Nord) LB bank on the corporate PPA-backed EUR 37 million refinancing of NTR’s 94MW wind project portfolio, VindIn, in Sweden and Finland.

Norddeutsche Landesbank Girozentrale (Nord) LB provided EUR 37 million of debt facilities to refinance a portfolio of two Swedish and one Finnish project, which became operational between 2009 and 2014 and were acquired by NTR plc in 2019.

The financing was backed by a new long term corporate PPA with a large utility for offtake of 70 % of the power generated over the next 15 years by the 69MW Trattberget project in Sweden. Existing revenue arrangements continued to support the two other projects: an offtake arrangement with an industrial pulp mill for the 10MW Skutskär project in Sweden and a feed-in-tariff for the 15MW Svalskulla project in Finland.

Team lead Martin Sandgren, commented: “We were delighted to work with Norddeutsche Landesbank Girozentrale (Nord) LB on this highly complex corporate PPA-backed wind portfolio refinancing in the Nordics. The instruction is a testament to our capabilities on large and complex international renewable energy financing and PPA arrangements and our outstanding position in this market. We appreciate that Nord placed their trust in us for this project and look forward to the opportunity to continue to working with them in the future.”