NTR has successfully completed a €109 million financing deal to support a wind energy portfolio consisting of both operational assets and a late-stage development project. The funding will be used for the refinancing of three operational wind farms and to support the development of the Momerstroff 2 project in France.
The first tranche of €45 million will be allocated to refinance three existing wind farms: SPJ and Briqueville in France and Ballycumber in Ireland, with a combined capacity of 38.25 MW. The remaining €64 million will be directed towards the Momerstroff 2 wind project, also located in France. The 34.5 MW project is scheduled to enter commercial operations in early 2026.
Nord LB and AIB acted as the mandated lead arrangers (MLAs) for the financing, with Nord LB also serving as the facility agent and account bank. Both institutions will also serve as hedging counterparties for the deal.
The projects are owned by the NTR Renewable Energy Income Fund 2, which focuses on renewable energy investments across Europe.
Nick Forster, Head of Structured Finance – Investments at NTR, commented: “This innovative financing collaboration with Nord/LB and AIB underscores the enduring value and appeal of our high-quality renewable energy projects, strategically diversified across Europe. We are proud to strengthen our longstanding relationships with both banks and look forward to building on these successful partnerships.
Niall McInerney, Head of Climate Capital Europe at AIB, added: “AIB is delighted to support NTR, with whom we have a well-established relationship, on another innovative transaction. Large-scale renewable energy projects are key drivers of sustainable economic growth, which is the focus of AIB's Climate Capital segment.
Heiko Ludwig, Global Head of Structured Finance at Nord/LB, stated: “Financing impactful renewable energy projects that accelerate Europe's net-zero transition is of central importance at Nord/LB. These wind farms in France and Ireland will deliver clean energy to thousands of households, and we're delighted to be supporting NTR, a client we have supported for over a decade.
