Business Technology

Monday 18 November 2019

NTR acquires 24MW wind project while DONG buys British-based SMart Wind

NTR chief executive Rosheen McGuckian is delighted with Scottish acquisition
NTR chief executive Rosheen McGuckian is delighted with Scottish acquisition

Michael Cogley

NTR, an investor and asset manager of renewable energy products, has acquired the 24 megawatt 'Quixwood Moor' wind project in the UK.

The project, which is located in Berwickshire, Scotland, was acquired from Banks Renewables.

NTR expects Quixwood Moor to produce over 71,000 megawatts per hour of green energy - enough to support the requirements of just under 15,500 homes.

NTR chief executive Rosheen McGuckian, said: "We are very pleased to have completed another significant wind project acquisition and our first in Scotland."

The NTR deal comes just days after Mainstream Renewable Energy, along with Siemens, sold a 4,000 megawatt offshore wind investment to DONG Energy of Denmark.

The investment, known as SMart Wind, is a joint venture between Siemens Financial Services and Mainstream.

It was formed in 2009 to successfully bid for and then to develop the 4,000 megawatt Hornsea Offshore Wind Zone in the North Sea off the UK. It was part of The Crown Estate's licensing round for large-scale offshore wind projects.

DONG Energy bought the first phase of the Hornsea Zone in February 2015 from Mainstream and Siemens.

At 1,200 megawatts it is one of the world's largest fully consented offshore windfarms. In acquiring SMart Wind, DONG will continue the development of the remainder of the Zone.

SMart Wind chairman Andy Kinsella said: "From the formation of the consortium when we bid into The Crown Estate Round 3 process, my colleagues at SMart Wind have worked heroically to win the Hornsea Zone, to develop the first projects, and to obtain planning consent for the 1,200 megawatt Phase 1 in February 2015."

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