NTR sells Osage wind project to TradeWind Energy in US

NTR subsidiary Wind Capital Group has sold its 150MW Osage wind farm in Oklahoma, to TradeWind Energy.

The wind project has been sold for a consideration of $60m (€44m) and assumption of all outstanding liabilities.

Meanwhile, Wind Capital Group will continue to manage over 350MW of operating wind projects and is also seeking other opportunities for profitable growth.

Scheduled to begin commercial operations in 2015, the Osage project will sell its entire output under a long-term power purchase agreement with Associated Electric, a Missouri based electric cooperative.

NTR CEO Rosheen McGuckian said, "We are very pleased to have obtained a very satisfactory value for the Osage project through its sale to a strategic party such as TradeWind. TradeWind are active participants in the Midwest and saw the value of a quality wind project which is in an advanced stage of development."

In 2013, NTR outlined its strategy to continuing to expand its portfolio of wind investments while focusing on projects of under 40MW each.

The proceeds of the Osage transaction will be used by NTR to further solidify the group’s cash reserves as it pursues further wind opportunities.