NTR plc, an international developer and operator in renewable energy and sustainable waste management, has invested $150 million in Wind Capital Group (WCG). NTR also singed an agreement for the supply of 150 megawatts (MW) of GE wind turbines on behalf of WCG for delivery in 2010 to accelerate the build out of WCG’s portfolio of development projects.
NTR said the investment will take WCG from being a regional developer to a major national player in wind energy development in North America.
Jim Barry, CEO of NTR plc said: “In re-entering the wind energy business in the US, NTR is delighted to partner with Wind Capital Group with their unique business model, focusing on local partnerships in rural communities. Their rapid growth and early success is a testament to the strength of their business model.”
WCG is currently developing with farm projects in eight states across the central United States with a development pipeline of over 2,000 MW of which the first will be coming on stream by 2010.
NTR’s wind development subsidiary, Airtricity, was recently sold to a combination of E.On and Scottish and Southern Energy for €1.9 billion (＄2.7 billion). The company has a market capitalization in excess of €1.3 billion. NTR has operations in Ireland, the UK and the US.
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