August 26, 2020

LBBW announces successful refinancing of the 220MW NTR onshore wind portfolio

Press Release

LBBW London Branch Project Finance was appointed as one of the five Mandated Lead Arrangers in the non-recourse (Senior Debt) refinancing of a 220MW onshore wind portfolio across 12 operating wind assets located in Ireland and the UK. The Project reached Financial Close on 7th August to successfully support NTR, an established renewables investor which has constructed and operated over 2.6GW of renewable projects. The portfolio produces electricity capable of powering c. 130,000 homes and offset c.125,000 tonnes of C02 emissions each year.

“The successful close of this refinancing to support NTR is a further demonstration of LBBW London Branch Project Finance team’s ability to deliver large scale wind projects and a major milestone as our first transaction in Ireland which has significant renewable growth opportunities”, said Chris Williams, Head of Project Finance London. Thomas Schulz, Global Head of Infrastructure and Transportation Finance, stated, that sustainability is a strategic cornerstone of LBBW. This NTR refinancing continues to support the bank’s strategy to expand their lending business in the renewable energy sector.