NTR to explore sale of wind assets

NTR plc, an Irish public limited company, is exploring the sale of its US wind assets.

NTR owns 97.2% of Wind Capital Group, a Missouri-based wind energy developer that operates 350 MW of wind energy assets.

Wind Capital Group’s wind assets have a strong track record of operating data and with the successful recent completion of the sale of the Osage wind project, NTR's board is reviewing the strategic options for NTR in the US wind market.

The company has commenced the process of appointing advisors to explore whether or not a sale of the US wind projects is the best course of action to maximise value for all shareholders. The board will make a determination following the outcome of that process.

The board also wishes to confirm the strategy in Europe, which is to invest in circa 150 MW of wind projects which are in development or operational across Ireland, UK and potentially further afield.

The board is very satisfied with the opportunities identified in Europe and the strong progress made to date, together with the clear evidence that attractive long-term yielding assets are available for investment. The board remains committed to its plan that NTR will invest upwards of one third of a target €150 million equity alongside other equity partners in fulfilment of this strategy, subject to NTR’s investment criteria being met.

Founded in 1978, NTR plc has a strong track record in developing and operating infrastructure in Ireland and internationally. Today, NTR plc is a leading investor in renewable energy.