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NTR's 2nd fund buys 38-MW UK solar portfolio

Solar panels in London. Author: Tom Page. License: Creative Commons, Attribution-ShareAlike 2.0 Generic.

November 1 (Renewables Now) - The second sustainable infrastructure fund of Irish green asset manager NTR Plc has bought a 38.4-MW solar portfolio in the UK for an enterprise value of EUR 61.3 million (USD 69.9m).

NTR Renewable Energy Income Fund II has acquired nine operational ground mount solar parks under its first transaction as a fund. The particular assets were developed by renewable energy firm Plus Renewable Technologies Limited.

“Our nine assets in the UK have either an attractive feed-in-tariff term of 20 years or are eligible for 1.3 ROCs, providing long-term price certainty to NTR,” said Paul Cheng, CEO of Plus Renewables.

Commenting on the strategy of its second fund, NTR CEO Rosheen McGuckian stated that it will acquire both pre-construction and operational onshore wind and solar plants in Europe.

The above-mentioned enterprise value for the latest transaction includes a deferred consideration of EUR 2.6 million, the announcement says.

(EUR 1.0 = USD 1.141)

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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