NTR in €57m wind refi
Irish renewables developer NTR has completed a €57m refinancing with NordLB and AIB for its Taranis wind portfolio.
The refinancing incorporates NTR’s operational 48.4MW Provencialis wind farm in Provence-Alpes-Cote d'Azur in France.
It was said to strengthen the company’s Taranis portfolio, which falls under NTR’s Renewable Energy Income Fund II.
The portfolio includes an Irish wind farm in Ballycumber, operational French farms SPJ and Briqueville, and the under-development Momerstroff II wind portfolio.
The refinancing follows a €109m portfolio financing agreement between the companies in January comprising a €45m tranche for 38.25MW of operational wind and €64m for the 34.5MW Momerstroff II.
Pinsent Masons was legal adviser to NTR and Watson Farley & Williams advised the lenders. Willis Towers Watson was insurance adviser. Model audit was provided by Mazars and tax advice by KPMG. Market advice was provided by Aurora Energy Research.
