NTR Fund Acquires 48.4 MW Artigues and Ollières Wind farm in France
Dublin, January 6, 2021: NTR has added a further 48 MW to its renewable energy platform through the acquisition of the Artigues et Ollières wind farm, located in the Provence-Alpes-Cote d’Azur region of France. The project was acquired by the NTR Renewable Energy Income Fund II, a wind, solar and energy storage fund that operates across a number of European markets. Total costs for the project amount to over €90 million. The project, which comprises 22 Vestas turbines, has recently commenced operations.
Said Manus O‘Donnell, Chief Investment Officer of NTR; “Artigues et Ollières wind farm is a substantial onshore wind project in size for France which avails of a 20 year government-backed tariff. The project is a highly attractive addition to our NTR Renewable Energy Income Fund II portfolio, bringing clean power to the equivalent of a further 25,000 homes.”
The project was acquired from independent French developer Eco Delta towards the end of its construction.
This latest acquisition brings renewable energy assets under management by NTR on behalf of its current two funds to 550 MW of wind and solar projects located throughout Ireland, France, Sweden, Finland and the United Kingdom.
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Issued on behalf of NTR plc by Heneghan
Enquiries: Emma Flannery, Phone +353 87 924 9349; Email: emma@heneghan.ie
About NTR
NTR is a sustainable infrastructure investor and asset manager that acquires, constructs and manages renewable energy projects. NTR has developed, constructed and operated over 2,600 MW of wind and solar projects in Europe and the USA. Its first fund, NTR Wind 1 LP, was launched in 2015 to invest in pre-construction onshore wind projects in Ireland and the UK. Its second fund, NTR Renewable Energy Income Fund II, invests in both pre-construction and operational onshore wind and solar projects together with energy storage across a number of European markets.
Paragon Labs of France acted as buy-side advisor to NTR on this transaction. Paragon Labs has been assisting NTR since 2017 in the French renewables market and delivers strategic, project and operations advisory services to help clients make a difference in the wind (on and offshore), solar and storage spaces.
About ECO DELTA
Eco Delta is an independent company whose vocation is to promote, develop and operate wind and photovoltaic projects, respectful of the local population and the environment. It resolutely inscribes its actions in a process of local economic development. Active in France since 2002, the company has obtained building permits in France for more than 220MW. With its experience, Eco Delta expands its scope and is now developing many international projects, including Moldova, Tunisia, Ireland, Spain and Portugal.
ECO DELTA was advised by Envinergy on sale side. Envinergy is a Financial and M&A advisor dedicated to renewables (wind, hydro and solar), with 22 people which offers high expertise in valuation, transaction and financing.