NTR acquires 38.4MW in UK solar assets

NTR acquires 38.4MW in UK solar assets
Credit: Shutterstock.com/ Filip Fuxa

NTR Renewable Energy Income Fund II has acquired nine operational UK ground mount solar assets totalling 38.4MW for £54.6 million.

This is the first transaction for the Fund, which invests in quality onshore wind and solar assets across a number of European markets in order to provide attractive and sustainable yields for its investors.

NTR’s first renewable energy infrastructure fund, which was launched in 2015, is now fully invested.

The assets were developed by Plus Renewable Technologies Limited (“Plus Renewables”), a global renewable energy and technology company that delivers renewable energy projects and asset management services.

Rosheen McGuckian, CEO of NTR, said: “Our strategy for the NTR Renewable Energy Income Fund II is to acquire both pre-construction and operational European onshore wind and solar assets, with the operational assets providing immediate yield on investment while the pre-construction assets are being built out.

“We are very pleased with this, our first acquisition for the Fund, which consists of a well-diversified portfolio of attractive cash yielding solar assets, providing long-term contracted revenues for our investors from the get-go.”