NTR Plc, an Irish renewable energy investor, increased its stake in closely held U.S. wind-farm developer Wind Capital Group LLC to 97 percent from 62 percent.
The deal is part of a strategy to “rebalance” its portfolio, Dublin-based NTR said today in an e-mailed statement. Terms weren’t disclosed.
The investment follows the company’s agreement to reduce to 2 percent its holdings in Green Plains Renewable Energy Inc. (GPRE), the fourth-largest U.S. ethanol producer, from about 23 percent. NTR will raise $71.9 million from the sale announced Feb. 29, including $44.8 million in cash it received immediately.
NTR in August wrote off its holdings in the solar-thermal energy companies Stirling Energy Systems and Tessera Solar. It revived last month a plan to sell its Greenstar Ireland waste unit for as much as 150 million euros ($198 million).
Poet LLC is the largest U.S. ethanol producer, followed by Archer Daniels Midland Co. and Valero Energy Corp. (VLO)
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