Irish renewable energy group NTR, which also operates a number of the country’s toll booths, has sold its remaining US windfarms – in Kansas and Missouri – for net proceeds of €195m.
The Independent reports that some of the group's principal shareholders have been publicly critical of its investment in renewable energy in the States, and it has now fully exited that market with the sale of 500 megawatts of wind assets to US investment firm Pattern Energy over the past year.
The company is also due to receive an additional €45m from the sale of a wind farm in Oklahoma to Associated Electric in April last year.
NTR Chief Exeuctive, Rosheen McGuckian has confirmed that “a liquidity event” is now likely – in other words, the redistribution of the proceeds of the US sales to shareholders, either in the form of a dividend or share buy-back.
"We are exceptionally pleased with the outcome and the value achieved for our shareholders," she said
The company will now begin a planned 18-month period of rebuilding, in which it aims to triple energy production in Ireland and the UK from 50 to 150 megawatts.
