NTR Completes €109 Million Financing Deal with Nord/LB and AIB

NTR Completes €109 Million Financing Deal with Nord/LB and AIB

Innovative financing partnership with both Nord/LB and AIB appointed as Mandated Lead Arrangers

Dublin, 20 January 2025:

NTR, a leading sustainable infrastructure investor and asset manager, is pleased to announce the successful completion of a multi-jurisdictional portfolio financing, in collaboration with Nord/LB and AIB.

Both Nord/LB and AIB were appointed as Mandated Lead Arrangers (MLAs), with Nord/LB also acting as Facility Agent and Account Bank. Each bank will also act as hedging counterparties.

The first tranche of funding, amounting to c. €45m, will be allocated to the refinancing of three fully operational wind farms:  SPJ and Briqueville in France, and Ballycumber in Ireland. With a combined capacity of 38.25MW, these windfarms provide enough clean energy to power 22,913 homes, making a significant contribution to Europe’s clean energy transition.

The remaining c. €64m of the facilities will support the Momerstroff II wind portfolio in France. Currently in the construction stage, the project is expected to enter commercial operations in mid 2026. Once operational, it will deliver a capacity of 34.5 MW, supplying clean energy for 13,675 homes. All projects are owned by the NTR Renewable Energy Income Fund II.

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, AIB commented:

“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. This diversified portfolio of high-quality assets will contribute strongly to ongoing decarbonisation efforts across Europe.”

 Heiko Ludwig, Global Head of Structured Finance at NORD/LB commented:

 “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.”

Lenders´advisors were Watson Farley Williams & Mason Hayes Curran (legal); Everoze (technical): and Willis Towers Watson (insurance). NTR´s legal advisors were Herbert Smith Freehills (Paris) and Arthur Cox.

ENDS

Enquiries:  

Gilly Lock / Louisa Henry

Sodali&Co

Telephone: +44 (0) 20 7100 6451

Email: ntr@sodali.com

About NTR

Established in 1978, NTR is an experienced sustainable infrastructure investor and asset manager driving Europe’s clean energy transition. NTR develops, constructs and operates renewable energy projects in circa 60 locations across seven European countries, specialising in wind, solar and energy storage. With approximately €1.8 billion of capital deployed, NTR has developed, constructed and operated over 3GW of wind, solar and energy storage projects to date.

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

About AIB

AIB Group is headquartered in Ireland. Our shares are quoted on the Irish and London stock exchanges and we are a member of the FTSE4Good Index.  Our four core operating segments are Retail Banking, Capital Markets, AIB UK, and Climate Capital. Climate Capital was established in 2024 to deploy significant funding towards renewable energy and sustainable infrastructure projects, across Ireland, the UK, Europe and North America. Greening our business is a strategic priority for AIB.  The bank’s €30bn Climate Action Fund is actively supporting our customers with €15.1bn of green and transition finance deployed since the fund launched in 2019 including €3.5bn in the first nine months of 2024 (35% of all new lending).

 About Nord/LB

NORD/LB Norddeutsche Landesbank is one of the leading German commercial banks. The core business segments include business with corporate customers, private and commercial customers including private banking as well as special finance in the energy and infrastructure sector, aircraft finance and commercial real estate finance. The bank is headquartered in Hanover, Brunswick and Magdeburg and has branches in Bremen, Oldenburg, Hamburg, Schwerin, Düsseldorf and Munich. Outside Germany NORD/LB is represented by a Pfandbrief Bank (NORD/LB Covered Bond Bank) in Luxembourg and branches in London, New York and Singapore.