NTR Refinances 29MW Wind Project with MUFG for £55 Million

Dublin, April 20, 2017:  NTR announces today that it has successfully completed a £55 million refinancing of existing debt facilities of the Twin Rivers windfarm, a 29MW windfarm located in Yorkshire, England, with MUFG’s core banking unit.  The project was acquired by NTR in December 2016 from InfraRed Environmental Infrastructure Fund and the Co-operative Group.

NTR’s Chief Financial Officer, Marie Joyce, said; “We are delighted to have completed this significant facility with MUFG and in doing so have enhanced the financial position of the windfarm.  The refinancing was completed just four months after acquiring the project, which is a testament to the execution capabilities of the MUFG team.”

Stephen Jennings, Executive Director, Power and Renewables at MUFG in EMEA said: “The Twin Rivers windfarm offers a significant contribution to the energy needs in the Yorkshire region in addition to providing support for local environmental, educational, and community projects.  I very much look forward to continuing our relationship with NTR on similarly environmentally-friendly projects in the near future.”

Twin Rivers consists of 14 Senvion MM92 turbines and provides enough clean energy to power 20,500 homes.  The project went into fully operational mode in recent weeks.

MUFG are also bankers to NTR’s Airies project, a 35MW project located in Scotland.

Pinsent Masons acted as advisors to NTR and Burges Salmon were advisors to MUFG.

 (Ends)

Issued on behalf of NTR by Heneghan PR

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

 

Notes to editors

NTR Wind 1 LP Fund – NTR Wind 1 LP was launched in 2015 by NTR plc to invest in onshore wind projects in Ireland and the UK.  LP investors of the fund are NTR plc, Legal & General Capital, Strathclyde Pension Fund and the Ireland Strategic Investment Fund.  With almost 40 years of experience in investing in and managing infrastructure assets, NTR plc now applies that expertise on behalf of investors who wish to avail of the attractive, reliable cash flows that quality sustainable infrastructure assets can provide.

Mitsubishi UFJ Financial Group, Inc. (“MUFG”) is one of the world’s leading financial groups.  Headquartered in Tokyo and with approximately 350 years of history, MUFG is a global network with around 2,300 offices in 50 countries.  The group has over 140,000 employees, offering services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing.  MUFG’s shares trade on the Tokyo, Nagoya, and New York (NYSE: MTU) stock exchanges. 

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