NTR enters French renewables market with acquisition of two wind projects
Dublin, 19 December 2018 – NTR has entered the French renewables market with the acquisition of two wind projects together comprising just under 20MW and with a total capital investment of over €35 million. NTR’s second sustainable infrastructure fund, NTR Renewable Energy Income Fund II, acquired “Bricqueville”, an 8.8 MW project from RES and “Saint-Pierre-de-Juillers”, a 10.2 MW wind project from BayWa r.e.
The 8.8MW Bricqueville project is located in the Normandy region of France in the department of Calvados and is entering into production. Once fully operational, it will produce enough clean energy to power approximately 4,000 homes. This project is powered by four Vestas V100 turbines.
The 10.2MW Saint-Pierre-de-Juillers project is located in the Nouvelle-Aquitaine region of France, in the department of Charente-Maritime, and is producing enough clean energy to power over 7,000 households. The project is powered by five Senvion MM92 turbines.
Said Manus O’Donnell, Chief Investment Officer of NTR; “These two acquisitions are a strong demonstration of our intent to be an active participant in the rapidly growing French wind and solar market. We are very pleased to enter the market in partnership with two leading international developers, RES and BayWa r.e. and intend to further expand our French presence with both international and domestic developers.”
The Bricqueville acquisition marks the fourth transaction between RES and NTR. Sébastien Dubois, Director of Finance and Acquisitions at RES, said: “RES has already established a strong relationship with NTR in Northern Ireland and we hope that this first project in France is the beginning of a long-term collaboration. We want to continue to develop our activities in wind, solar and storage alongside players committed to the clean energy transition such as NTR.”
“We are very pleased about the successful completion of the sale of Saint-Pierre-de-Juillers”; commented Can Nalbantoglu, Managing Director of BayWa r.e. France SAS, with responsibility for the French wind project business. “In the last ten years BayWa r.e. has succeeded in fostering the development of the project and building trust within the local community. Since 2006, we have been operating in the Poitou-Charentes region, having already realised 6 wind and solar parks and there are more to come.”
NTR has identified the French onshore wind and solar market as a core market for its second sustainable infrastructure fund, NTR Renewable Energy Income Fund II. France is the 9th largest renewables market in the world and the French Government has recently reiterated plans to double France’s renewables generating capacity over the coming decade.
For NTR contact: Heneghan PR, Emma Gallagher, tel: + 353 1 6607395, email: email@example.com
For BayWa contact Felix Gmelin, Corporate Communications, tel: +49 89-383932-5817,
For RES contact : Amanda Baudry, Communications Manager, tel : +33 6 61 49 06 11,
NTR is a sustainable infrastructure investor and asset manager that acquires, constructs and manages renewable energy projects. NTR has constructed and operated 1.8GW of wind projects and 630 MW of solar projects across the US, Ireland, UK and France.
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 BayWa r.e. renewable energy GmbH
Across solar and wind, at BayWa r.e we r.e.think energy - how it is produced, stored and used the best.
We are a leading global developer, service supplier, wholesaler and provider in energy solutions.
We deliver renewable energy solutions worldwide; have brought 2 GW of energy online---while managing 5 GW of assets in operation. BayWa r.e is a leading supplier to the solar wholesale market. We also have a rapidly growing energy trading business.
As an integral part of the €16 billion BayWa Group, we work hard every day to find new solutions, push technological boundaries and actively shape the future of energy.
RES is the world’s largest independent renewable energy company active in onshore and offshore wind, solar, energy storage and transmission and distribution. At the forefront of the industry for over 35 years, RES has delivered more than 16 GW of renewable energy projects across the globe and supports an operational asset portfolio exceeding 3.5 GW worldwide for a large client base. Understanding the unique needs of corporate clients, RES has secured 1GW of power purchase agreements (PPAs) enabling access to energy at the lowest cost. RES employs more than 2,000 people and is active in 10 countries. In France, RES has constructed more than 750 MW of wind and solar energy and employs 200 people.
For more information: www.res-group.com
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