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Leading renewable energy company RES has sold its Bricqueville Wind Farm in Normandy, France to sustainable infrastructure investors and asset manager, NTR. The four-turbine project was developed and constructed by RES, who will undertake the asset management on the project during operations, tipping the French asset management portfolio over the 600 MW mark.
The acquisition marks the fourth transaction between RES and NTR, with Bricqueville joining NTR’s Renewable Energy Income Fund II portfolio following a first round of fundraising in late October. The 8.8 megawatt (MW) project was commissioned on 13th December and benefits from a 15-year contract with EDF OA.
Bricqueville Wind Farm, powered by four Vestas V100 turbines, will produce approximately 18.5 GWh of green energy each year, or the equivalent of the consumption of nearly 4000 homes and will avoid the annual emissions of more than 9,000 tonnes of CO2 into the atmosphere.
Sébastien Dubois, Director of Finance and Acquisitions at RES, said: “RES has already established a strong relationship with NTR in Northern Ireland and we hope that this first project in France is the beginning of a long-term collaboration. We want to continue to develop our activities in wind, solar and storage alongside players committed to the clean energy transition such as NTR.”
Said Manus O’Donnell, Chief Investment Officer of NTR; “This acquisition is a strong demonstration of our intent to be an active participant in the rapidly growing French wind and solar market. We are very pleased to enter the market in partnership with RES, a leading international developer, and intend to further expand our French presence.”
RES is the world’s largest independent renewable energy company active in onshore and offshore wind, solar, energy storage and transmission and distribution. At the forefront of the industry for over 35 years, RES has delivered more than 16 GW of renewable energy projects across the globe and supports an operational asset portfolio exceeding 3.5 GW worldwide for a large client base. Understanding the unique needs of corporate clients, RES has secured 1GW of power purchase agreements (PPAs) enabling access to energy at the lowest cost. RES employs more than 2,000 people and is active in 10 countries. For more information: www.res-group.com
NTR is a sustainable infrastructure investor and asset manager that acquires, constructs and manages renewable energy projects. NTR has constructed and operated 1.8GW of wind projects and 630 MW of solar projects across the US, Ireland, UK and France. Its first fund, NTR Wind 1 LP, was launched in 2015 to invest in pre-construction onshore wind projects in Ireland and the UK. NTR is currently acquiring assets for its second sustainable infrastructure fund, NTR Renewable Energy Income Fund II, which invests in onshore wind and solar assets across a number of European markets.