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Renewables consultancy signed up for three Nordic wind farms

Castle Douglas-based renewable energy consultancy and service provider Natural Power is acting as technical adviser for three major wind farms in Norway and Sweden.

The Scottish company provided technical due diligence during the acquisitions by Macquarie’s Green Investment Group (GIG)  of the 43 MW Hornamossen wind farm in Jönköping, Sweden; the 47 MW Tysvaer wind farm in Rogaland county, Norway; and the 79.8 MW Buheii wind farm in Kvinesdal, Norway.

It will continue to provide guidance on the projects on behalf of the Australian-owned investor.

The 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.”

Natural Power provides due diligence team advice through the transaction from risk assessment to credit-committee or data room presentation at final bid stage or financial close.

London-based GIG has £20 billion committed to renewable energy projects across the world. It is using Norwegian supply chain companies to deliver both Buheii and Tysvaer, bringing new investment into south Norway region and supporting 200 jobs will be supported during construction. Hornamossen is due to be completed by end of the year.

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.”

Published in Insider -