Tom Roche's wind-to-waste group NTR may net as much as €160m from the planned sale of its two US wind farms in Kansas and Missouri. The Irish firm has hired Marathon Capital to sell the assets which are held by NTR's US group Wind Capital. The two wind farms are NTR's only remaining US assets.
Industry sources have linked Brookfield Renewable Energy Partners, Yieldcos Pattern Energy Group and TransAlta as the most likely bidders. Invenergy LLC, Algonquin Power & Utilities Corp and SunEdison are also said to be in the frame for the US businesses. Last week SunEdison splurged $1.9bn to buy renewable group First Wind Holdings in a deal that may spark increased consolidation and interest in the wind and solar power sectors.
Earlier this year, NTR agreed to sell its Osage wind farm in Oklahoma for around €44m as it seeks to refocus on Europe. However the price agreed for the Osage asset was lower than expected because of a dispute with the Osage nation native American tribe, which has claimed an interest in the wind farm acreage.
The funds from the sale of its US assets may be divvied up among its shareholders in a tender offer, which may see One51 and Pageant exit the firm. During a heated AGM last September, NTR's two main independent shareholders - One 51 and Pageant Holdings - roasted the company over its board structure, demanded the sale of its US assets, and dismissed its European plans.
Sunday Indo Business