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NTR closes three project debt finance facilities for a combined EUR66.5m

NTR has closed three project debt facilities in recent weeks with AIB, Nord/LB and MUFG totalling a Euro equivalent of EUR66.5 million. Two of the debt facilities will be utilised to finance the construction of new wind farms, while the third is for the refinancing of a wind farm already in operation.

The new debt facilities are for Castlecraig, a 25MW wind farm located in County Tyrone, Northern Ireland using Nordex turbines and financed by First Trust Bank (AIB Group) (GBP33.6 million), and the Rathnacally wind farm located in County Cork using Senvion turbines and financed by Nord/LB (EUR9.6 million). Both projects are expected to go into operations in 2018. 
The refinancing facility is with MUFG in the amount of £16.6 million for “Ardoch and Over Enoch”, an 11.5 MW wind farm using Siemens turbines and located in East Renfrewshire, Scotland. This project has been operational since 2014.
NTR’s Chief Financial Officer, Marie Joyce, says: “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.”

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