NTR has closed two debt facilities totalling €45m with Nord LB to finance the construction of two wind farms in Ireland.
The projects are the Boolard located in Cork and Aeolus in Mayo, which are expected to be fully constructed by the end of 2019 in time to qualify for the Irish government REFIT tariff.
NTR said Boolard and Aeolus make up the final two projects under construction of NTR’s Wind 1 LP Fund, which commenced investments in onshore wind in late 2015.
The projects bring the total capacity of the fund to just under 225MW.
NTR chief financial officer Marie Joyce said: “These financings continue a long and successful relationship with Nord LB, whereby to date between our two renewable energy funds, Nord has provided debt finance for the construction of 72MW of new, clean power.”
Nord LB energy origination Europe senior director Alan Harling said: “We are delighted to once again support NTR in their journey to establish themselves as one of the leading renewable generators across Europe.
“NTR are a professional team with great experience in the renewables sector and Nord LB are looking forward to working with them in the coming years and strengthening the already strong relationship.”