NTR forays into France renewables market with a €35 million investment

  • The company acquired an 8.8 MW Bricqueville project from RES & a 10.2 MW Saint-Pierre-de-Juillers wind project from BayWa r.e.

  • The company has identified French onshore solar & wind markets as the core market for NTR Renewable Energy Income Fund II.

NTR Plc (NTR), a renowned Irish renewable energy firm, has reportedly announced that it has acquired two wind projects with a combined capacity of about 20MW, to enter the French renewable energy market.

Reports cite, the company has made a total capital investment of about €35 million to purchase the projects for its second sustainable infrastructure fund, called the NTR Renewable Energy Income Fund II.

According to a press release by NTR Plc, the company has acquired the 8.8MW Bricqueville wind project from English renewable energy company, Renewable Energy Systems (RES) and 10.2MW Saint-Pierre-de-Juillers wind project from Germany’s BayWa r.e.

The 8.8MW Bricqueville wind project is situated in France’s Normandy region inside the department of Calvados which is also entering production. The project, being powered by four V100 turbines from Vestas, once completely operational, would be producing energy enough to power over 4,000 homes.

Meanwhile, the 10.2MW Saint-Pierre-de-Juillers wind project in France’s Nouvelle-Aquitaine region, being powered by five MM92 turbines from Senvion, is generating energy that is enough to power more than 7,000 homes.

The Chief Investment Officer of NTR, Manus O’Donnell stated that the two new acquisitions are a testament to the company’s commitment to become an active participant in France’s booming solar & wind market. O’Donnell further added that NTR is thrilled to foray into the market with a partnership with BayWa r.e. & RES, prominent international developers, and aims to further expand its presence in the French market with both domestic & international developers.

NTR has reportedly identified France’s onshore solar & wind power market as a crucial area for its NTR Renewable Energy Income Fund II as the nation is the 9th biggest renewable energy market in the world. Moreover, the French Government intends to double the nation’s renewables capacity over the next decade.