US-based asset manager Nuveen Infrastructure has expanded an existing power off-take deal for a 47-MW Swedish wind farm portfolio bought earlier this year to include portfolio management of the guarantee of origin certificates (GOs).
The amendment was made to the company’s original multi-option power purchase agreement (PPA) with Norwegian energy group Statkraft, Nuveen said Monday.
The deal covers two wind farms that the US group’s unit Glennmont Partners, a British fund manager and clean infrastructure investor, acquired in January through its fund with Dutch financial services firm MN and thus made its entry into the Swedish market.
The 19.8-MW Langmarken park is located in southern Sweden’s Kristinehamn municipality and the 27.6-MW Vasberget plant is situated in Ljusdal, northern Sweden. Both wind farms have been generating electricity since 2017, with their PPA with Statkraft running through 2032.
The two projects were previously owned by Swedish renewables company Eolus Vind AB and Paris-based impact investor Mirova, an affiliate of Natixis Investment Management.