250m Euro close for NTR wind fund.
NTR plc and Legal & General Capital today announce the successful and final close of NTR’s wind investment fund, NTR Wind 1, with the addition of a further €50 million secured from Strathclyde Pension Fund and €35 million from the Ireland Strategic Investment Fund.
Strathclyde Pension Fund and the Ireland Strategic Investment Fund join previously announced investors NTR plc and Legal & General Capital, bringing the equity in the fund to a hard cap total of €250 million.
NTR Wind 1 Fund was launched by NTR plc to invest in onshore wind projects in Ireland and the UK. At around 270MW of capacity, the fund’s total equity and project finance capital requirement amounts to approximately €670m. The fund is well underway in deploying into ready to build onshore wind assets with an active pipeline of further investments across the UK and Irish markets. A minimum of €80 million is targeted to be invested in pre-construction renewable investments in the Irish Single Electricity Market.