Ireland-based sustainable infrastructure investor and asset manager NTR has forayed into French renewables market with the acquisition of two wind projects in France for more than €35m ($39.9m).
NTR Renewable Energy Income Fund II, NTR’s second sustainable infrastructure fund, acquired 8.8MW Bricqueville project from Renewable Energy Systems (RES), and 10.2MW Saint-Pierre-de-Juillers project from BayWa re.
Powered by four Vestas V100 turbines, Bricqueville project is located in the Normandy region in the department of Calvados and can produce enough clean energy to power approximately 4,000 homes in the region, once fully operational.
The two wind projects in France represents the fourth deal between RES and NTR.
RES Finance and Acquisitions director Sébastien Dubois said: “RES has already established a strong relationship with NTR in Northern Ireland and we hope that this first project in France is the beginning of a long-term collaboration.
“We want to continue to develop our activities in wind, solar and storage alongside players committed to the clean energy transition such as NTR.”
The Saint-Pierre-de-Juillers project is located in the Nouvelle-Aquitaine region in the department of Charente-Maritime. Equipped with five Senvion MM92 turbines, the project can provide enough clean energy to power over 7,000 households.
NTR chief investment officer Manus O’Donnell said: “These two acquisitions are a strong demonstration of our intent to be an active participant in the rapidly growing French wind and solar market.
“We are very pleased to enter the market in partnership with two leading international developers, RES and BayWa re and intend to further expand our French presence with both international and domestic developers.”
Considered to be the world’s ninth largest clean energy market, France plans to double its generating capacity through renewable sources over the coming decade.
NTR has developed and operated 1.8GW of wind projects and 630MW of solar projects.
These projects are located in the US, Ireland, UK and France.