NTR prepares Europe wind debut

Irish company NTR expects to open its European wind account this summer as part of plans to invest in a total of 150MW of projects, starting with Ireland and the UK.

The Dublin business said in annual results that it is actively reviewing a number of projects and is hoping to announce “its first material transaction” in the first half of the current financial year, i.e. by the end of September.

NTR is looking to reinvest profits from the $60m sale of the 150MW Osage wind farm in the US earlier this year.

The company posted 2013 profits of €31.4m, compared with a loss of €16.2m in 2012. Revenues were €45.6m, up from €35.3m in the previous year.

NTR also reported that its energy storage investment, Highview Power Systems, is motoring ahead on the back of a £8m grant from the UK government for deployment of a 5MW/15MWh demo facility in partnership with Viridor.

Highview also holds a global licensing agreement with GE.


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