Nuveen Infrastructure has strengthened its relationship with renewables group Statkraft by extending a Swedish onshore wind power purchase agreement (PPA).

In January, Nuveen acquired the 47MW Vasberget and Langmarken onshore wind farms and agreed a multi-option PPA with Statkraft.

Nuveen said it has now agreed an extension with Statkraft of the existing PPA structure for Vasberget and Langmarken onshore wind farms.

The subsequent agreement with Statkraft sees the firm opt to utilise the multi-option PPA offtake framework, as well as expanding the agreements to include portfolio management of the guarantee of origin certificates, Nuveen said.

Joost Bergsma, CEO at Glennmont Partners from Nuveen, said the acquisition of the Vasberget and Langmarken onshore wind farms were significant as the “first investment of our European core renewables infrastructure strategy and we are delighted to have finalised this agreement to ensure its continued success”.

He said: “Our original multi-option PPA with Statkraft was agreed with strategic adaptability in mind, and we are pleased to see this evidenced through the signing of an extended PPA.”

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