The Strathclyde Pension Fund and the Ireland Strategic Investment Fund have agreed to invest €50m and €35m respectively in NTR Wind 1 wind investment fund
The investments have brought the equity in the fund to a hard cap total of €250m.
NTR Wind 1 is now ready to be deployed into ready to build onshore wind assets with an active pipeline of further investments theroughout the UK and Irish markets.
About €80m is anticipated to be invested in pre-construction renewable investments in the Irish Single Electricity Market.
NTR CEO Rosheen McGuckian said: "We are delighted to have attracted such calibre of institutional money into this, our first wind management fund. "
"The lineup of institutional investment partners that have come into the fund is a validation of NTR’s track record and of our proposition to make long term investments in attractive yielding renewable assets."
Apart from its direct investment in the NTR Wind 1 Fund, Legal & General has partnered with NTR to evaluate additional prospects to invest in the clean energy sector,
The company is supporting NTR’s clean energy investment and asset management business, NTR Wind Management Limited.
Legal & General Capital head of clean energy John Bromley said: "Clean, green energy is the future and we are very happy with the progress the fund and NTR are making in getting long-term institutional money into the energy market.
"Investment into new technology will deliver massive leaps in renewable energy capacity, and drive down the household bills for renewable energy for customers."
Image: WInd Turbines. Photo: Courtesy of satit_srihin/FreeDigitalPhotos.net
