Back to top
Reported by NTR on 19 December 2018

NTR enters French renewables market with acquisition of two wind projects

(Courtesy of NTR plc)

NTR has entered the French renewables market with the acquisition of two wind projects together comprising just under 20MW and with a total capital investment of over €35 million. NTR’s second sustainable infrastructure fund, NTR Renewable Energy Income Fund II, acquired “Bricqueville”, an 8.8 MW project from RES and “Saint-Pierre-de-Juillers”, a 10.2 MW wind project from BayWa r.e.

The 8.8MW Bricqueville project is located in the Normandy region of France in the department of Calvados and is entering into production. Once fully operational, it will produce enough clean energy to power approximately 4,000 homes. This project is powered by four Vestas V100 turbines.

The 10.2MW Saint-Pierre-de-Juillers project is located in the Nouvelle-Aquitaine region of France, in the department of Charente-Maritime, and is producing enough clean energy to power over 7,000 households. The project is powered by five Senvion MM92 turbines.

Said Manus O’Donnell, Chief Investment Officer of NTR; “These two acquisitions are a strong demonstration of our intent to be an active participant in the rapidly growing French wind and solar market. We are very pleased to enter the market in partnership with two leading international developers, RES and BayWa r.e. and intend to further expand our French presence with both international and domestic developers.”

The Bricqueville acquisition marks the fourth transaction between RES and NTR. Sébastien Dubois, Director of Finance and Acquisitions at RES, said: “RES has already established a strong relationship with NTR in Northern Ireland and we hope that this first project in France is the beginning of a long-term collaboration. We want to continue to develop our activities in wind, solar and storage alongside players committed to the clean energy transition such as NTR.”

“We are very pleased about the successful completion of the sale of Saint-Pierre-de-Juillers”; commented Can Nalbantoglu, Managing Director of BayWa r.e. France SAS, with responsibility for the French wind project business. “In the last ten years BayWa r.e. has succeeded in fostering the development of the project and building trust within the local community. Since 2006, we have been operating in the Poitou-Charentes region, having already realised 6 wind and solar parks and there are more to come.”

NTR has identified the French onshore wind and solar market as a core market for its second sustainable infrastructure fund, NTR Renewable Energy Income Fund II. France is the 9th largest renewables market in the world and the French Government has recently reiterated plans to double France’s renewables generating capacity over the coming decade.

References

[1]

NTR plc. Press release - NTR enters French renewables market with acquisition of two wind projects. URL: http://www.ntrplc.com/news/article/ntr-enters-french-renewables-market-with-acqu.... [Date Accessed: 19/12/2018].

Business & Finance

28 Jan | R W S | Corporate clean energy buying surged to new record in 2018

Corporations purchased 13.4 gigawatts of clean power through long-term contracts, more than doubling 2017’s total, helped by demand from new industries and previously untrodden markets

Business & Finance

24 Jan | W | Parkwind and ESB to develop two offshore wind farms at Oriel and Clogherhead

  • Potential generation capacity at Oriel Wind Farm to meet the needs of most of the population in Louth and Meath - 280,000 families
  • Highly complementary partnership between Parkwind, an experienced offshore operator, and ESB, which has significant experience in the delivery of major engineering projects in Ireland

Business & Finance

24 Jan | W | EBRD supports largest windfarm in Ukraine

  • EBRD arranging syndicated loan of €150 million to SyvashEnergoProm
  • Project to be co-financed by Green for Growth Fund, FMO and NEFCO
  • EBRD’s latest investment under USELF III achieves significant CO2 reductions

Business & Finance

18 Jan | W | TEPCO and Ørsted sign MoU to work jointly on offshore wind projects

Tokyo Electric Power Company Holdings, Inc. (TEPCO), the largest power company in Japan, and Ørsted A/S (Ørsted), the world’s leading offshore wind developer, announced today that they have signed a memorandum of understanding to work jointly on offshore wind projects.

Business & Finance

15 Jan | W | NTR acquires 200MW wind portfolio in Sweden and Finland, total capital investment of over €180 million

A portfolio of just over 200MW of operational and pre-construction onshore wind projects in Sweden and Finland has been added by NTR to its NTR Renewable Energy Income Fund II, for which a fundraising first close was recently announced.

Business & Finance

03 Jan | W S E | Commitments of €229 million secured by NTR for its second renewable energy income fund

NTR plc today announces that it has attracted commitments of €229 million for the NTR Renewable Energy Income Fund II, of which €145 million has been secured for the fund’s first close.

Business & Finance

06 Dec | W S E | EIB backs €1.2 billion in renewable investment through Irish NTR Fund

EIB to back €1.2 billion pan-European renewable investment through Irish NTR Fund
  • EIB to provide EUR 84 million to support long-term investment in European renewables
  • Ireland designated core market for the fund
  • EUR 500 million equity fund, together with EUR 700 million debt expected to be deployed
  • First EIB backing for Irish ICAV fund to attract institutional investors and pension funds

Business & Finance

01 Nov | S | NTR acquires nine UK solar assets totalling 38.4MW

NTR’s second sustainable infrastructure fund, NTR Renewable Energy Income Fund II (the “Fund”) has acquired nine operational UK ground mount solar assets totalling 38.4MW for an enterprise value of €61.3 million (GBP £54.6 million), including a deferred consideration amount of €2.6 million, (GBP £2.