NTR finalises NTR REIF II Fund portfolio with 46 MW Momerstroff wind portfolio acquisition in France
Dublin, 2 February, 2023: NTR, a leading sustainable infrastructure investor and asset manager, has successfully completed its final acquisition for NTR Renewable Energy Income Fund II – the 46 MW Momerstroff wind portfolio in the Grand Est region of France. The portfolio was acquired from ecoJoule GmbH and eolec SAS, members of the German developer deanGruppe.
The portfolio consists of two projects – Momerstroff I has been operational since 2006 and consists of five turbines, with a total capacity of 11.5 MW, while Momerstroff II is in late development phase with commercial operations expected to start in the first quarter of 2026. Once operational, the project will consist of ten turbines, with a capacity of 34.5 MW.
The combined development is expected to generate 101,500 GWh of annual production, enough clean energy to power approximately 19,000 homes per year.
As France experienced its hottest average temperatures and lowest levels of rainfall on record in 2022, the transition to renewable energy is a priority for the country. The Momerstroff portfolio is one of NTR’s five projects in France, contributing to a total capacity of 113.5MW.
Anthony Doherty, Chief Investment Officer at NTR, commented:
“With France’s National Assembly recently approving the country’s Renewable Energy Acceleration Bill, steps are being taken towards accelerating the deployment of renewable energy. We are delighted to be able to play a part in providing access to renewable power via the Momerstroff projects and we look forward to the portfolio being fully operational, delivering clean energy to over 19,000 homes.”
Ulrich Schmall President of eolec SAS, added:
“We are pleased to complete the sale of the Momerstroff portfolio to NTR and proud to be partnering alongside them, working hard to support Europe’s transition to clean energy. We have operated in France’s wind sector since 2002, developing a number of projects in France, which have strengthened the country’s green energy transition and security of supply.”
LPA GCR acted on behalf of the fund with Natural Power providing technical advice.
Ravetto Associés acted as legal advisor on behalf of ecoJoule GmbH and eolec SAS.
ENDS
Enquiries:
Gilly Lock/ Genevieve Ryan
Powerscourt
Telephone: +44 (0) 20 7250 1446
Email: ntr@powerscourt-group.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 over 50 locations across seven European countries, specialising in wind, solar and energy storage. With approximately €1.2 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 deanGruppe
deanGruppe, located in Neustadt am Rübenberge / Germany, is represented by independent companies in the renewable energy sector that are working closely together since 1998.
With its team of engineers, technicians and business economists, deanGruppe’s core competences cover all services in wind and solar energy, ranging from project planning, financing and construction to the commercial and technical operation of the plants and the direct sale of electrical energy.
Responsible thinking and acting, with an eye for detail as well as for the big picture, are the foundations of the corporate philosophy. deanGruppe is committed to generating energy from the forces of nature with a clear goal: the realisation and successful operation of innovative, future-oriented and sustainable energy projects.