NTR Closes Three Debt Facilities to Value of €66.5m for Fund’s Wind Projects
Dublin, January 29, 2018: NTR announces today that it has successfully closed three project debt facilities in recent weeks with AIB, Nord/LB and MUFG totaling a Euro equivalent of €66.5 million. Two of the debt facilities will be utilised to finance the construction of new wind farms, while the third is for the refinancing of a wind farm already in operation.
The new debt facilities are for Castlecraig, a 25MW wind farm located in County Tyrone, Northern Ireland using Nordex turbines and financed by First Trust Bank (AIB Group) (£33.6 million), and the Rathnacally wind farm located in County Cork using Senvion turbines and financed by Nord/LB (€9.6 million). Both projects are expected to go into operations in 2018.
The refinancing facility is with MUFG in the amount of £16.6 million for Ardoch and Over Enoch, a 11.5 MW wind farm using Siemens turbines and located in East Renfrewshire, Scotland. This project has been operational since 2014.
NTR’s Chief Financial Officer, Marie Joyce said; “This is a diversified group of blue chip banking partners working with NTR on our portfolio of wind projects for our NTR Wind 1 LP fund and providing competitive banking terms. The projects enjoy the benefits of long-term power purchase agreements with quality off-takers, Tier 1 equipment providers and are all operating in stable and supportive power regimes.”
(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. 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.