NTR enters French renewables market with €35m spend on two acquisitions
NTR has entered the French renewables market, spending €35m on two wind projects.
The sustainable infrastructure investor and asset manager acquired "Bricqueville", an 8.8 mega watt project from RES, and "Saint-Pierre-de-Juillers", a 10.2 mega watt wind project from BayWa.
The 8.8 MW Bricqueville project is located in the Normandy region of France, 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.
Meanwhile, the Saint-Pierre-de-Juillers project is located in the Nouvelle-Aquitaine region of France, and is producing enough clean energy to power over 7,000 households. The project is powered by five Senvion MM92 turbines.
"These two acquisitions are a strong demonstration of our intent to be an active participant in the rapidly growing French wind and solar market," Manus O’Donnell, chief investment officer of NTR, said.
"We are very pleased to enter the market in partnership with two leading international developers, RES and BayWa, and intend to further expand our French presence with both international and domestic developers."
This is the second recent transaction for the Irish investor NTR Renewable Energy Income Fund (II), which has been set up to invest in onshore wind and solar assets across a number of European markets.
An earlier renewable energy infrastructure fund that was launched in 2015 is now fully invested.