NTR’s Wind Capital offloads projects for $244m
Published 06/04/2015 | 11:16
Wind Capital, the subsidiary of NTR, the renewable energy firm, has sold its Post Rock and Lost Creek projects for $244m (€222m) to Pattern Energy.
Proceeds after repayment of third party debt will be about $195m with the sale subject to regulatory approval.
This transaction marks the sale of 500MW of wind projects by NTR plc / Wind Capital Group over the past 12 months, the second such successful exit by NTR from its wind investment portfolios spanning two economic cycles
“Pattern Energy was the successful bidder following an extensive auction process which had garnered significant interest due to the outstanding quality of these operating wind assets,” said Rosheen McGuckian, NTR chief executive.
“We are exceptionally pleased with the outcome and the value achieved for our shareholders.”