Senvion seals Irish debut
Client NTR secures finance for Teevurcher and Coollegrean projects
Senvion is to supply five MM82 turbines totalling 10.25MW to NTR’s Teevurcher wind farm in Ireland.
The deal, which was first revealed by subscriber-only newsletter reNEWS in June last year, is with NTR’s wind investment fund and is Senvion’s first in Ireland.
Turbine components will start to be delivered to the project site in county Meath in the summer, with installation and commissioning scheduled to be complete towards the end of the year.
Senvion will also provide long-term service and maintenance for the project.
Senvion chief executive Jürgen Geissinger said: “The Republic of Ireland offers promising opportunities for Senvion and we look forward to building on further success thanks to our diverse portfolio of products which is well suited to the wind conditions there.”
NTR has also closed €50m project debt facilities for Teevurcher and the 17MW Coollegrean wind farm in county Kerry with Nord LB.
Construction is underway at Coollegrean, which will comprises seven Nordex N90 machines, NTR said.
It added that both projects will operate a “supplier lite” power purchase agreement model, with ElectroRoute appointed as trading partner for the two assets.
NTR chief financial officer Marie Joyce said: “NTR has had a longstanding and successful relationship with Nord LB in financing our wind projects in the USA and we are delighted to now transact with Nord in the Irish market in which they have a very strong presence.”
Mason Hayes and Curran were advisors to NTR on both project finance transactions, while A&L Goodbody were advisors to Nord LB.