NTR has entered the French renewables market with the acquisition of two wind power projects together comprising just under 20MW and with a total capital investment of over EUR35 million.
NTR’s second sustainable infrastructure fund, NTR Renewable Energy Income Fund II, has acquired Bricqueville, an 8.8 MW project from RES, and Saint-Pierre-de-Juillers, a 10.2 MW project from BayWa r.e.
The 8.8 MW Bricqueville project is located in the Normandy region of France in the department of Calvados and is entering into production. Once fully operational, it will produce enough clean energy to power approximately 4,000 homes. This project is powered by four Vestas V100 turbines.
The 10.2 MW Saint-Pierre-de-Juillers project is located in the Nouvelle-Aquitaine region of France, in the department of Charente-Maritime, and is producing enough clean energy to power over 7,000 households. The project is powered by five Senvion MM92 turbines.
Manus O’Donnell, Chief Investment Officer of NTR, says: “These two acquisitions are a strong demonstration of our intent to be an active participant in the rapidly growing French wind and solar market. We are very pleased to enter the market in partnership with two leading international developers, RES and BayWa r.e and intend to further expand our French presence with both international and domestic developers.”
The Bricqueville acquisition marks the fourth transaction between RES and NTR. Sébastien Dubois, Director of Finance and Acquisitions at RES, says: “RES has already established a strong relationship with NTR in Northern Ireland and we hope that this first project in France is the beginning of a long-term collaboration. We want to continue to develop our activities in wind, solar and storage alongside players committed to the clean energy transition such as NTR.”
“We are very pleased about the successful completion of the sale of Saint-Pierre-de-Juillers,” says Can Nalbantoglu, Managing Director of BayWa r.e. France SAS, with responsibility for the French wind project business. “In the last ten years BayWa r.e. has succeeded in fostering the development of the project and building trust within the local community. Since 2006, we have been operating in the Poitou-Charentes region, having already realised 6 wind and solar parks and there are more to come.”
NTR has identified the French onshore wind and solar market as a core market for its second sustainable infrastructure fund, NTR Renewable Energy Income Fund II. France is the 9th largest renewables market in the world and the French Government has recently reiterated plans to double France’s renewables generating capacity over the coming decade.