NTR secures debt for 80 MW of solar, wind capacity in UK

Dublin-based sustainable infrastructure investor NTR on Wednesday said it has completed an innovative two-stage project financing for a solar farm near London and a wind farm in Northern Ireland with a combined capacity of more than 80 MW.

NTR partnered with Rabobank on the financing structure, with the latter providing GBP 38 million (USD 43.4m/EUR 43.5m) of debt. The transaction involves the 58.8-MWp Ockendon solar farm, which is already under construction and has a power purchase agreement (PPA) to sell its output to BT Group over 10 years, and the ready-to-build 21.6-MW Murley wind farm in County Tyrone, Northern Ireland.

NTR said it has been able to finance fully merchant revenues for the Murley project by combining them with PPA-backed revenues from the Ockendon solar project. The scheme at Ockendon is thought to be one of Europe’s biggest solar farms on a repurposed landfill site.

(GBP 1 = USD 1.143/EUR 1.144)

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