NTR acquires Wexford solar and battery assets for €29m
Energy investor agrees deal with the RES (Renewable Energy Systems) group
The deal, worth €29 million, comprises two battery storage projects adding 25 MW of storage capacity to the Irish grid network, along with 29 MW of solar PV. The portfolio of projects will enter operations in 2022.
The latest acquisition brings renewable energy assets under management by NTR to over 600 MW (megawatts) of wind, solar and battery storage projects located throughout Ireland, France, Sweden, Finland and the UK.
“This mix of solar and battery storage brings much-needed diversity of renewables technology onto the Irish grid, particularly for lower wind days,” NTR’s chief investment officer Manus O’Donnell said.
“ Co-location of solar and battery projects can be particularly effective, as they can share grid connections and obtain economies of scale,” he said.
“In the future, they should be able to take further advantage of storing excess power produced on site and we expect to see more co-location of solar and battery storage throughout Europe, ” he added.
The projects were acquired by the NTR Renewable Energy Income Fund II, a wind, solar and energy storage fund that operates across a number of European markets.