NTR has added a further 19.2 MW to its renewable energy platform through the acquisition of Ballycumber windfarm, located in Co. Wicklow, Ireland. The project was acquired by the NTR Renewable Energy Income Fund II, a wind, solar and energy storage fund that operates in a number of European markets. The project, which comprises six Siemens turbines, went into operations in 2019 and is one of the last remaining wind projects to avail of the Irish REFIT tariff.
Manus O‘Donnell, Chief Investment Officer of NTR said: “We are delighted to add this high quality REFIT-backed wind asset onto the platform which is located close to Dublin, the location of heaviest demand for energy in Ireland. While our investments are diversified across a number of European countries, the Irish market continues to be a core market for NTR, an Irish-based team, as Ireland transitions from the Feed-In-Tariff regime to auctions, which are due to start in 2020.”
This latest acquisition brings renewable energy assets under management by NTR on behalf of its two funds to 515 MWs of wind and solar projects located throughout Ireland, France, Sweden, Finland and the United Kingdom.