NTR buys €90m French wind farm

Energy investor NTR has bought a €90 million wind farm in the south of France, the Irish company confirmed on Wednesday.

NTR said that it had bought the Artigues et Ollières wind farm, in the Provence-Alpes-Cote d'Azur region of France, from its developer Eco Delta, shortly before building finished.

The Irish company confirmed that total costs for the project came to €90 million.

Artigues et Ollières wind farm’s 22 turbines, which can produce enough electricity for around 25,000 homes, recently began generating power.

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Guaranteed price

Manus O’Donnell, chief investment officer, NTR, noted that the French government guaranteed the farm’s electricity price for 20 years.

"The project is a highly attractive addition to our NTR Renewable Energy Income Fund II portfolio," he said.

The French deal brings to 550 megawatts the amount of electricity produced by the green energy projects that NTR manages in Ireland, Britain and continental Europe. That is enough power for more than 200,000 homes.