NTR closes €30m debt facility to build Co Antrim wind farm

NTR has closed a new £27.2 million (€30 million) debt facility that will be used to finance the construction of a wind farm in Co Antrim.

The new financing is the second debt facility it has closed this year with Ulster Bank Ireland and the third in total that NTR has closed within six months. It will fund the building of Altaveedan wind farm, an 18MW wind farm NTR bought in May. It is due for completion by spring next year.

Once operational, the wind farm will generate enough electricity to power about 15,000 homes. The company has already struck a 15-year power purchase deal with SSE Airtricity.

NTR's chief financial officer, Marie Joyce, said the company had now raised just over £90 million senior debt in six months to finance the construction of 57MW across three projects.