Friday 28 October 2016

NTR sells windfarms for €222m


DUBLIN-based renewable energy group NTR has up to €240m in its arsenal to return to shareholders following the sale of its last remaining US windfarms.

The company sold 350 megawatt (MW) worth of windfarms in Missouri, to US investment company Pattern Energy for $244m (€222m).

The sale represents a total exit from the US market for NTR. It has sold 500 MW of wind assets in the past 12 months. From now on it will be focused on building windfarms in Ireland and the UK.

Chief executive Rosheen McGuckian (above) confirmed that a "liquidity event", which could range from a dividend to a share redemption, is now likely to occur.

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