NTR has acquired the almost 22MW Murley wind farm in Northern Ireland from RES for an undisclosed price.
The 21.6MW project is located in County Tyrone and brings NTR’s presence in the all-island I-SEM market to about 200MW across 26 locations.
The six-turbine Murley project is due to start construction this year and become operational from winter 2023.
The project is expected to produce enough electricity to power over 20,000 homes.
Murley was acquired by the NTR Renewable Energy Income Fund II, a wind, solar and energy storage fund that operates across a number of European markets.
The wind farm has been acquired without a government support and NTR will evaluate opportunities to match its clean power output with a power purchase agreement.
RES will support the build of the wind project for NTR, continuing a longstanding relationship between the two.
RES will also provide asset management services once the wind farm is operational.
NTR chief investment officer of NTR Anthony Doherty said: “While NTR has broadened our exposure to a number of European markets, we continue to find quality opportunities like Murley on the island of Ireland to continue to grow and contribute to its decarbonisation agenda.”
RES managing director Lucy Whitford said: “RES has been developing, constructing and operating wind farms across the island of Ireland since the early 1990s.
“We are delighted to partner with NTR again at Murley and maintain our relationship with the project through supporting NTR in its construction of the project and its asset management.
“The recently published ‘Path to Net Zero Energy’ strategy aims to double the size of Northern Ireland’s low carbon economy to more than £2bn by 2030.
“We are proud that Murley will play an important role in achieving these investment ambitions and the jobs associated with them.”
The Murley acquisition brings renewable energy assets under management by NTR on behalf of its current two funds to over 700MW of wind, solar and battery storage projects located throughout Ireland, France, Italy, Sweden, Finland and the UK