NTR, a leading sustainable infrastructure investor and asset manager, is pleased to announce the successful completion of a c.€57 million debt refinancing in collaboration with NordLb and AIB, further strengthening the Taranis portfolio financing structure.
The refinancing incorporates Provencialis, a 48.4MW fully operational wind farm located in the Provence-Alpes-Côte d'Azur region of France, which reached commercial operations in December 2020. The project benefits from a Contract for Difference (CfD) with the French government, providing long-term revenue certainty and underpinning the quality of the asset. At 48.4MW, Provencialis makes a meaningful contribution to France's clean energy ambitions and to Europe's broader decarbonisation goals.
This transaction represents a significant expansion of NTR’s Taranis portfolio, which already encompasses the operational Irish wind farm Ballycumber, operational French wind farms SPJ and Briqueville, and the Momerstroff II wind portfolio in France, which is currently under construction and expected to enter commercial operations over the coming months.
All projects are owned by the NTR Renewable Energy Income Fund II.
Nick Forster, Head of Structured Finance for NTR, commented:
“This refinancing with Nord LB and AIB is a further demonstration of the strength and breadth of the Taranis portfolio and the continued confidence of leading European financial institutions in our renewable energy assets. The addition of Provencialis, a high-quality operational wind farm backed by a French government CfD, further enhances the diversification and resilience of the portfolio. We are delighted to continue working with NordLB and AIB as financing partners and look forward to building on these relationships as we continue to drive Europe's clean energy transition."
Lenders' advisors were Watson Farley Williams (legal); Everoze (technical); and Willis Towers Watson (insurance). NTR's legal advisors were Pinsent Masons (Paris). Model audit was provided by Mazars, tax advice by KPMG and electricity market advice was provided by Aurora Energy Research.
Further information:
Media enquiries:
Gilly Lock/ Louisa Henry
+44 (0) 20 7100 6451
About NTR
Established in 1978, NTR is an experienced sustainable infrastructure investor and asset manager driving Europe’s clean energy transition. Over 25 years in clean energy investment, NTR has developed, constructed and operated over 4 GW of wind, solar and energy storage projects and associated grid. NTR currently manages clean energy transition projects in circa 70 locations across seven European countries.
NTR’s mission of developing, constructing, and operating sustainable infrastructure in a responsible manner means that we incorporate an ESG mindset into every stage of the business. From initial investment assessment through to operational projects, NTR aims to have a positive impact on the environment and society while maintaining strong governance and risk management oversight.
For more information please visit: www.ntrplc.com