John Laing Environmental Assets Grp Acquisition of Solar PV Portfolio (1070E)
02 November 2015 - 8:00AM
UK Regulatory
TIDMJLEN
RNS Number : 1070E
John Laing Environmental Assets Grp
02 November 2015
2 November 2015
JOHN LAING ENVIRONMENTAL ASSETS GROUP LIMITED
("JLEN" or the "Company")
Acquisition of solar PV portfolio
JLEN is pleased to announce the acquisition of a large solar PV
portfolio for a cash consideration, including working capital, of
GBP18.8 million.
The fully operational 4.2 MWp solar energy generation portfolio
comprises 796 systems of residential rooftop, commercial rooftop
and commercial ground mounted solar PV installations, distributed
across England, Wales and Scotland. The portfolio benefits from the
UK feed-in tariff for 25 years from the date of installation of
individual systems which is linked to an annual increase in the UK
Retail Price Index ("RPI"). The portfolio comprises a number of
special purpose companies financed and owned by Venture Capital
Trusts and Enterprise Investment Schemes managed by Downing LLP and
Beringea LLP and the founding shareholders and developers of the
portfolio.
The acquisition was funded by a draw-down under the Company's
GBP50 million revolving credit facility.
Ends
For Further Details Contact:
John Laing Capital Management Limited
David Hardy
Chris Tanner 020 7901 3559
Redleaf Polhill
Rebecca Sanders-Hewett
Charlie Geller 020 7382 4769
About JLEN
JLEN's investment policy is to invest in environmental
infrastructure projects that have the benefit of long-term,
predictable, wholly or partially inflation-linked cash flows
supported by long-term contracts or stable regulatory
frameworks.
Environmental Infrastructure is defined by the Company as
infrastructure projects that utilise natural or waste resources or
support more environmentally-friendly approaches to economic
activity. This could involve the generation of renewable energy
(including solar, wind, hydropower and biomass technologies), the
supply and treatment of water, the treatment and processing of
waste, and projects that promote energy efficiency.
Further details of the Company can be found on its website
www.jlen.com
About Downing
Downing LLP is a London-based investment management firm. We
help UK businesses grow by investing in them via our range of VCT,
EIS, ISA and other products. So far, over 35,000 investors have
been a part of what we do, and we are proud to have raised and
invested over GBP1.6 billion in businesses across a range of
sectors, from renewable energy, care homes, health clubs and data
centres, to early-stage technology investments and earth satellite
stations.
For more information visit www.downing.co.uk.
About Beringea
Beringea is an international venture capital firm with offices
in London and Detroit, managing over GBP300m of assets. In the UK,
Beringea LLP manages the ProVen VCTs and Beringea Growth Finance.
Beringea launched its first VCT in 1996, making it one of the most
experienced VCT managers in the UK. For more information visit
www.beringea.co.uk and www.provenvcts.co.uk.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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