POST Online Media Lite Edition



 

NTR's Wind Capital Group sells wind projects for $244 million

Staff writer |
NTR announced that its US wind company, Wind Capital Group LLC, has agreed to sell its Post Rock and Lost Creek wind projects (350MW of operational wind) to Pattern Energy Group for a gross consideration of $244 million.

Article continues below






Proceeds after repayment of third party debt will be approximately $195m. The sale is subject to regulatory approval and certain commercial consents.

Said NTR CEO Rosheen McGuckian, "Pattern Energy was the successful bidder following an extensive auction process which had garnered significant interest due to the outstanding quality of these operating wind assets. We are exceptionally pleased with the outcome and the value achieved for our shareholders."

"The outstanding quality of these assets is a perfect fit for our portfolio. We are pleased to acquire them from a team that has demonstrated experience in developing and operating world-class wind farms," said Mike Garland, President and CEO of Pattern Energy.

This transaction marks the successful sale of some 500MW of wind projects by NTR plc / Wind Capital Group over the past 12 months, the second such successful exit by NTR plc from its wind investment portfolios spanning two economic cycles1.

NTR remains committed to wind energy and has re-entered the Irish and UK wind markets, where it has secured exclusivity on over 50MW of ready-to-construct wind projects in fulfilment of its strategy to build and operate a further 150MW of wind over the coming two years.


What to read next

Construction finishes on first U.S. offshore wind farm
Chinese nuclear giant CGN wins French wind power contract
Siemens to produce wind turbines for two EDF Luminus projects in Belgium