NTR Fund Acquires 19.2MW Ballycumber Wind Farm in Ireland Increasing its Portfolio to 515MW
Dublin, 9 January, 2019: NTR has added a further 19.2MW to its renewable energy platform through the acquisition of Ballycumber wind farm, located in Co. Wicklow, Ireland. The project was acquired by the NTR Renewable Energy Income Fund II, a wind, solar and energy storage fund that operates in a number of European markets. The project, which comprises six Siemens turbines, went into operation in 2019 and is one of the last remaining wind projects to avail of the Irish REFIT tariff.
Said Manus O‘Donnell, Chief Investment Officer of NTR; “We are delighted to add this high quality REFIT-backed wind asset onto the platform which is located close to Dublin, the location of heaviest demand for energy in Ireland. While our investments are diversified across a number of European countries, the Irish market continues to be a core market for NTR, an Irish-based team, as Ireland transitions from the Feed-In-Tariff regime to auctions, which are due to start in 2020.”
This latest acquisition brings renewable energy assets under management by NTR on behalf of its two funds to 515MW of wind and solar projects located throughout Ireland, France, Sweden, Finland and the United Kingdom.
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Notes to editors:
NTR is a sustainable infrastructure investor and asset manager that acquires, constructs and manages renewable energy projects. NTR has constructed and operated 2GW of wind projects and 630MW of solar projects across Europe and the US.
NTR’s first fund, NTR Wind 1 LP, was launched in 2015 to invest in pre-construction onshore wind projects in Ireland and the UK. This fund has investments of just under 225MW of wind projects. LP investors of the fund are NTR plc, Legal & General Capital, Strathclyde Pension Fund and the Ireland Strategic Investment Fund.
NTR’s second sustainable infrastructure fund, NTR Renewable Energy Income Fund II, targeting €500 million, invests in both pre-construction and operational onshore wind and solar projects across a number of European markets. To date, NTR has acquired over 290MW of wind and solar projects for this fund.Return to News