NTR Fund Acquires 22 MW Wind Project in Northern Ireland from RES.
Dublin, March 7, 2022 : NTR has acquired Murley, a 21.6 MW wind project, located in Co. Tyrone, N. Ireland, from RES bringing its presence in the all-island I-SEM market to c. 200 MW across 26 locations. The six-turbine project is due to commence construction in 2022 and produce clean power from winter 2023. The project is expected to produce enough clean energy to power over 20,000 homes.
Said Anthony Doherty, Chief Investment Officer of NTR; “While NTR has broadened our exposure to a number of European markets, we continue to find quality opportunities like Murley on the island of Ireland to continue to grow and contribute to its decarbonisation agenda.”
The projects were acquired by the NTR Renewable Energy Income Fund II, a wind, solar and energy storage fund that operates across a number of European markets. Murley has been acquired without a government support and NTR will evaluate opportunities to match its clean power output with a high quality power purchase agreement.
RES will support the build of the wind project for NTR, continuing a longstanding relationship between the two. Once operational, RES will provide asset management services.
Lucy Whitford, Managing Director, from RES said; “RES has been developing, constructing and operating wind farms across the island of Ireland since the early 1990s. We’re delighted to partner with NTR again at Murley and maintain our relationship with the project through supporting NTR in its construction of the project and its asset management.
“The recently published ‘Path to Net Zero Energy’ strategy aims to double the size of Northern Ireland’s low carbon economy to more than £2 billion by 2030. We’re proud that Murley will play an important role in achieving these investment ambitions and the jobs associated with them.”
This latest acquisition brings renewable energy assets under management by NTR on behalf of its current two funds to over 700 MW of wind, solar and battery storage projects located throughout Ireland, France, Italy, Sweden, Finland and the United Kingdom.
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Issued on behalf of NTR plc by Heneghan PR
Enquiries: Emma Flannery, Phone +353 87 924 9349; Email: emma@heneghan.ie
RES – Rachel Anderson, RES, +44 (0)7795 680 803
About NTR
NTR is a sustainable infrastructure investor and asset manager that acquires, constructs and manages clean energy and energy storage projects. NTR has developed, constructed and operated c. 3,000 MW of wind, solar and energy storage projects in Europe and the USA and today manages clean energy projects in c.50 locations around Europe. www.ntrplc.com
About RES
RES is the world’s largest independent renewable energy company active in onshore and offshore wind, solar, energy storage, transmission and distribution. At the forefront of the industry for 40 years, RES has delivered more than 22GW of renewable energy projects across the globe and supports an operational asset portfolio exceeding 9GW worldwide for a large client base. Understanding the unique needs of corporate clients, RES has secured 1.5GW of power purchase agreements (PPAs) enabling access to energy at the lowest cost. RES employs more than 2,000 people and is active in 11 countries.