European renewable energy company NTR has raised € 65 million for monvallet, a ready-made solar and battery energy storage system (BESS) portfolio.
Financing marks the construction of the Irish factory of NTR for the L&G NTR Clean Power (Europe) III Fund. The company has collected the funds in addition to Rabobank and Siemens Financial Services, in which Siemens Bank provided an initial debt of € 65 million for the first two solar projects, which are part of a broader potential portfolio financing facility.
The financing includes an initial loan of € 65 million with additional and accordion facilities, which means that financing for the Bess section and additional solar and Bess projects in Ireland is possible, including a 115 MW solar project of NTR Clean Power Fund.
Siobhan Smyth, CEO of Siemens Bank said: “Integration of solar energy and battery storage systems is a powerful combination that strengthens the security of the delivery, while the energy transition of Ireland accelerates – which is our commitment to Siemens Financial Services underlined to Innovative Financing Shortage.”
Located in County Louth, Ireland, Monvallet is a 211 MW Solar and Bess portfolio that was taken over in April 2025 by Legal & General (L&G) NTR Clean Power Fund III. The project consists of two SPVs – Monvallet Solar LTD and Hazelboro – with grid connections and planning approval. Hazelboro has a contract for difference among Ireland’s Renewable Energy Support Scheme (RESS) 2 schedule, while the Solar activum of Monvallet focuses on a PPA partner of the company.
The L&G NTR Clean Power (Europe) Fund III is a joint partnership between NTR, a leading specialist in renewable energy, and L&G’s Asset Management Division, an important global investor.
NTR was founded in 1978 and is a sustainable infrastructure investor and asset manager who stimulates the transition from the Clean Energy of Europe. NTR works at 66 locations in seven countries and specializes in wind, solar and energy storage, with more than € 2 billion and more than 3.6 GW of projects developed, built and operated so far.
Recently, The company, with the help of Consultancy Natural Power Renewable Energy, acquired 326 MW to Solar and Battery Energy Storage (Bess) Capacity in Ireland. Earlier, NTR has two storage systems for battery energy in Co. Wexford implemented. The 9 MW Bess in Gorey joined the Eirgrid’s DS3 service in April 2023, while the 16 MW Avonbeg Bess will enter the DS3 market in April.
