Business Irish

Saturday 25 November 2017

NTR sells Osage wind project for $60m

NTR Chief Executive Rosheen McGuickian
NTR Chief Executive Rosheen McGuickian

NTR's US arm Wind Capital has sold its Osage project for $60m (€44m).

The Oklahoma wind farm was bought up by Wind Capital Group and will start commercial operations in 2015.

It will sell its entire output under a long term power purchase agreement with Associated Electric, a Missouri based electric cooperative. 

Rosheen McGuckian, chief executive, NTR said: “We are very pleased to have obtained a very satisfactory value for the Osage project through its sale to a strategic party such as TradeWind.

"TradeWind are active participants in the Midwest and saw the value of a quality wind project which is in an advanced stage of development.”

The transaction marks the successful transition of Wind Capital Group from a predominantly project development oriented company to a wind investment and operations company.

Wind Capital continues to manage over 350MW of operating wind projects and is actively pursuing other opportunities for profitable growth.

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