NTR has sold around one- third of its shareholding in Green Plains Renewable Energy.

Green Plains has repurchased 3.5 million shares of its common stock from NTR at a price of $8.00 per share. Green Plains will pay 50 per cent of the repurchase amount to NTR this week, with the balance due within 90 days.

NTR's chief financial officer Neil Parkinson said the transaction is part of NTR's rebalancing of its portfolio of renewable energy investments.

"Green Plains continues to be a strategic holding for us and we look forward to sharing in its continued success" he said.

Last month NTR, which made its name as a toll operator, posted a loss of €381 million for the 12 months to the end of March 2011. In the previous year, NTR's loss amounted to €285.5 million.

The US bio-diesel company had a net income of $48 million in 2010, more than double the $19.8 million it recorded in 2009. Earnings per share at the Nasdaq-quoted group were $1.51 last year, up from 79 cents during the previous 12-month period.