NTR and NY giant in investment venture

RENEWABLE energy company NTR is to form a new investment vehicle with New York-based giant, BlackRock.

The new business, which will utilise both companies’ names, will be headquartered in Dublin (with additional offices planned for London and New York) and will target investment opportunities in the renewable energy sector; an area largely untouched by BlackRock.

While NTR — which yesterday also reported a €50 million rise in first-half revenues to €168m — didn’t divulge monetary details about the new venture, which requires formal regulatory approval, it said it would benefit from the Irish group’s international expertise in the energy sector and BlackRock’s global fund management and distribution capabilities.