28 Aug 2020 | 10:21 am |
Multinational law firm Pinsent Masons has advised NTR on the €370 million refinancing of its 220MW onshore wind portfolio.
NTR plc is a leading renewable energy company based in Dublin and has transacted more than €3 billion of sustainable infrastructure investments in wind, solar, bioenergy, water treatment, energy storage and recycling over the past 15 years.
The transaction concerned the group's NTR Wind 1 LP fund's portfolio of twelve operational onshore windfarms across the United Kingdom and Ireland and saw the replacement of the individual project financing arrangements with new facilities totalling around €370 million, made available by five lenders.
The Pinsent Masons team acting on the transaction was led by Partner Gillian Frew and Senior Associate Michael Duffy, alongside a multi-discipline, multi-jurisdiction team.
Commenting on the deal Gillian Frew said "Reaching financial close on this transaction demonstrates robustness and resilience in the renewable energy sector during the pandemic and shows that well-structured deals can still be financed on flexible terms. We were delighted to support our long standing clients, NTR, through the process."
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