NTR acquires nine UK solar assets totalling 38.4MW

Dublin, 1 November 2018:  NTR’s second sustainable infrastructure fund, NTR Renewable Energy Income Fund II (the “Fund”) has acquired nine operational UK ground mount solar assets totalling 38.4MW for an enterprise value of €61.3 million (GBP £54.6 million), including a deferred consideration amount of €2.6 million, (GBP £2.3 million) on satisfactory completion of certain conditions.

This is the first transaction for the Fund, which invests in quality onshore wind and solar assets across a number of European markets in order to provide attractive and sustainable yields for its investors.  NTR’s first renewable energy infrastructure fund, which was launched in 2015, is now fully invested.  The assets were developed by Plus Renewable Technologies Limited (“Plus Renewables”), a global renewable energy and technology company that delivers renewable energy projects and asset management services.

Said Rosheen McGuckian, CEO of NTR; “Our strategy for the NTR Renewable Energy Income Fund II is to acquire both pre-construction and operational European onshore wind and solar assets, with the operational assets providing immediate yield on investment while the pre-construction assets are being built out.  We are very pleased with this, our first acquisition for the Fund, which consists of a well-diversified portfolio of attractive cash yielding solar assets, providing long-term contracted revenues for our investors from the get-go.”

“We are pleased that NTR has chosen our renewable energy projects as the first assets for its second sustainable infrastructure fund.  This is a testament to the quality of our projects.  Our nine assets in the UK have either an attractive feed-in-tariff term of 20 years or are eligible for 1.3 ROCs, providing long-term price certainty to NTR.  These assets were developed in 2015 and 2016, after rigorous due diligence to ensure that they would be built on high priority sites with strong load fundamentals and efficient grid structures.” said Paul Cheng, CEO of Plus Renewables.

 (Ends)

Issued on behalf of NTR by Heneghan PR

Enquiries: Nigel Heneghan – Phone + 353 (0)86 258 7206 – Email: nigel@hpr.ie

Note to Editors

About NTR:  NTR acquires, constructs and manages sustainable infrastructure assets.  Over the past four decades, it has invested in sustainable infrastructure across the clean energy, water treatment and recycling sectors.

NTR applies its know-how on behalf of investment partners, with a particular focus on wind and solar projects.

To date, NTR has, through its associated companies constructed and operated 1.8GW of wind projects and 630MW of solar projects across the US, UK and Ireland.

Its first fund, NTR Wind 1 LP, was launched in 2015 to invest in pre-construction onshore wind projects in Ireland and the UK. NTR is currently acquiring assets for its second sustainable infrastructure fund, NTR Renewable Energy Income Fund II, which invests in onshore wind and solar assets across a number of European markets.

About Plus Renewables:  Plus Renewable is a global renewable energy and technology company that delivers renewable energy projects and asset management services.

The firm has been making waves in the global renewable energy sector since its establishment in 2012, with its unique offerings and stellar track record in developing and monetising renewable energy projects.

Today, it counts global financial institutions, private equity and infrastructure funds, family offices, and corporates with strong credit ratings as its customers by:

  • Developing investable renewable energy projects for them; and
  • Managing customers’ renewable energy assets, using its proprietary and highly scalable Radian Generation LENS™ platform.

Plus Renewables is one of the leading third-party solar asset managers globally, managing over 5.9GW of third-party wind and solar PV assets across more than 300 projects in 17 states in the USA, Canada, Jamaica, Mexico and Australia.

Return to News