NTR acquires Altaveedan Windfarm in Northern Ireland

15 May 2016 (Last Updated May 15th, 2016 18:30)

Dublin-based NTR has purchased an 18MW onshore windfarm at County Antrim in Northern Ireland.

Dublin-based NTR has purchased an 18MW onshore windfarm at County Antrim in Northern Ireland.

Named Altaveedan, the facility is under construction by developer RES and is aimed to help prove the economic benefit of such projects in the country.

It is located near Loughguile and reveals the significant investment renewable energy projects make in local communities.

Since commencement of construction last year, it has added £4m to the country's economy. Total capital costs are expected to be more than £30m.

"Over £60m of capital will be invested into NTR wind projects locally, which will provide enough clean energy to sustain 40,000 homes in Northern Ireland."

NTR chief Investment officer Manus O'Donnell said: "Altaveedan is our third wind project investment in Northern Ireland over the past eighteen months and our second with RES, which have an outstanding reputation as a renewable energy developer by putting the community and local economy at the heart of its activities.

"With this investment, over £60m of capital will be invested into NTR wind projects locally, which together will provide enough clean energy to sustain an estimated 40,000 homes in Northern Ireland."

The Irish county has gained a direct investment of over £1.3m from the nine-turbine project, while £772,000 has been spent within a five mile radius.

RES Ireland's projects head Lucy Whitford said: "We are looking forward to completing construction at Altaveedan on behalf of NTR and will be ensuring that the project continues to deliver local economic benefits when the turbines start arriving on site later in the year."