25 Feb 2021 | 09:34 am |
Multinational law firm Pinsent Masons has advised NTR PLC on the acquisition of a 54MW portfolio of co-located solar and battery storage projects in County Wexford, Ireland, from renewable energy developer RES.
A long-standing client of Pinsent Masons, Dublin based NTR acquires, constructs and manages sustainable infrastructure assets including renewable energy projects. Over its lifetime, NTR has developed, constructed and operated over 2,700 MW of wind, solar and energy storage projects in Europe and the USA.
The Pinsent Masons team acting on the transaction was led by Head of Projects Ireland Garrett Monaghan and comprised a multidisciplinary team including Ciaran McNamara, Kevin Collins, Louise Davison, Oisín McLoughlin, David Ross, Sarah Hope, John Scanlon, Matthew Mooney and Anton Trofimchenko.
Commenting on the deal Garrett Monaghan said, “With the combination of solar and storage we worked closely with NTR's technical and commercial teams to address the transaction's unique characteristics. This deal is another example of Ireland’s large scale solar ambitions and the sector's significant increased activity; we are currently working on in excess of 1GW in Irish solar and renewables development, M&A and project financing. We are also seeing rapidly increasing sophistication and diversity in the Irish generation mix and offtake structures."
Manus O‘Donnell, Chief Investment Officer of NTR said, “This mix of solar and battery storage brings much-needed diversity of renewables technology onto the Irish grid, and we expect to see more co-location of solar and battery storage throughout Europe.”
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