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Banks back NTR wind plans

Debt facilities totalling €66.5m linked to newbuilds, refinancing

Banks back NTR wind plans image

NTR has closed three project debt facilities totalling €66.5m with AIB, Nord/LB and MUFG in recent weeks.

Two of the debt facilities will be used to finance the construction of new wind farms, while the third is for the refinancing of a project that is already in operation.

The 25MW Castlecraig wind farm in County Tyrone, Northern Ireland, will use Nordex turbines and receive £33.6m from First Trust Bank AIB Group.

The Rathnacally wind farm in County Cork will be using Senvion turbines and will receive €9.6m in finance from Nord/LB.

Both projects are expected to go into operations in this year.

The refinancing facility, with MUFG for £16.6m, is for the 11.5MW Ardoch and Over Enoch wind farm, in East Renfrewshire, Scotland.

The project uses Siemens turbines and has been operational since 2014.

NTR chief financial officer Marie Joyce said: “This is a diversified group of blue chip banking partners working with NTR on our portfolio of wind projects for our NTR Wind 1 LP fund and providing competitive banking terms.

“The projects enjoy the benefits of long-term power purchase agreements with quality off-takers, Tier 1 equipment providers and are all operating in stable and supportive power regimes.”

Image: Pexels

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