The L&G NTR Clean Power (Europe) Fund, a JV between the renewable energy specialist NTR and L&G’s Asset Management division, has acquired the Montvallet solar+storage project in Louth (Ireland) from the Irish project developer Strategic Power Projects. The project is a ready-to-build solar and BESS portfolio, consisting of two special purpose vehicles, Monvallet Solar and Hazelboro, with a combined capacity of over 211 MW. They have grid and planning in place, with construction of the solar project expected to start in 2025 and that of the BESS in 2026. Hazelboro solar has already secured a contract for difference under the Irish Renewable Electricity Support Scheme (RESS) with Monvallet solar targeting a Corporate PPA partner. This transaction is the Fund’s second solar portfolio in Ireland, and third solar transaction overall.
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