Advised Lenders on NTR’s €109 Million Financing Deal

We advised Nord/LB and AIB on NTR’s €109 million portfolio financing. Both banks were appointed as Mandated Lead Arrangers (MLAs), with Nord/LB also acting as Facility Agent and Account Bank. Each will also act as hedging counterparties.

The financing supports renewable energy projects in Ireland and France, including the refinancing of three operational wind farms (SPJ, Briqueville, and Ballycumber) and the construction of the Momerstroff II wind project in France, expected to go live in mid-2026.

Commenting on the deal, Niall McInerney, Head of Climate Capital Europe at AIB, said: “AIB is delighted to support NTR, with whom we have a well-established relationship, on another innovative transaction. Large-scale renewable energy projects are key drivers of sustainable economic growth, which is the focus of AIB’s Climate Capital segment. This diversified portfolio of high-quality assets will contribute strongly to ongoing decarbonisation efforts across Europe.”

Heiko Ludwig, Global Head of Structured Finance at Nord/LB, added: “Financing impactful renewable energy projects that accelerate Europe’s net-zero transition is of central importance at Nord/LB. These wind farms in France and Ireland will deliver clean energy to thousands of households, and we’re delighted to be supporting NTR, a client we have worked with for over a decade.”

Commenting on the transaction, Eoin Cassidy, Energy Sector Lead Partner said:

“We are proud to have supported Nord/LB and AIB in this significant financing transaction, which underscores the strength of the renewable energy sector in Ireland and across Europe. This deal highlights the continued appetite for investment in high-quality, renewable energy projects.”

Conor Lynch, Financial Services Partner, added:

"This deal reflects the evolving financing landscape for renewable energy, where portfolio financings are utilised that allow sponsors to benefit from economies of scale and increased flexibility across their portfolio, which in turn further contributes to accelerating the energy transition. Congratulations to AIB, Nord/LB and NTR in successfully completing this multi-jurisdictional portfolio financing.”

The team was led by Eoin Cassidy, Energy Sector Lead Partner, and included Partners, Conor Lynch, Peter McLay and Stephen Cowhey. They were supported by Senior Associates, Grainne Tiernan, Jane Lynch and Associates, Ross Merriman, Ciarán Murray, and Sarah Pickard.

Read the full press release.

For more information and expert advice on matters relating to renewable energy financing, contact a member of our Energy team.