The Jersey investment funds team at Carey Olsen has advised NTR plc on the successful final close of its new investment fund with a hard cap investment of €250 million.

The private placement fund, NTR Wind 1 Fund LP, invests in onshore wind projects in Ireland and the UK and is one of a growing number of funds investing in the renewable energy market across the UK and EU.

Jersey proved an attractive location to establish the fund due to the island's flexible and streamlined approach to the regulation of private placement funds and compliance with the AIFM Directive (enabling the Fund to be marketed in the UK and Ireland using national private placement regimes).

Alongside investments from NTR and Legal & General Capital, €50 million was secured from the Strathclyde Pension Fund and €35 million from the Ireland Strategic Investment Fund which aims to support economic activity and employment in Ireland.

Carey Olsen partner Robert Milner and senior associate Lauren Fletcher advised NTR on the Jersey aspects of the launch alongside Arthur Cox (Dublin), Cannacord Genuity (London) and KPMG (Dublin).

Mr Milner said: "This fund launch represents a significant investment of long-term, institutional money into the renewable energy market which is an area that is seeing an increasing amount of activity.

“Jersey is well-placed to service this growing sector as investors are confident in its stability and it provides cost efficiencies for clients.”

NTR plc is a renewable energy investment management group that acquires, constructs and manages assets directly and for third parties. NTR bring sectoral expertise, financing capability and operational management to its clean energy investments. The company has constructed and operated 1.75GW of wind projects across the US, UK and Ireland.