John Laing Environmental Assets Grp Acquisition (7557H)
02 Dezember 2015 - 1:52PM
UK Regulatory
TIDMJLEN
RNS Number : 7557H
John Laing Environmental Assets Grp
02 December 2015
2 December 2015
JOHN LAING ENVIRONMENTAL ASSETS GROUP LIMITED
("JLEN" or the "Company")
Acquisition of Burton Wold Extension wind farm
JLEN is pleased to announce the acquisition of Burton Wold
Extension wind farm from John Laing Group plc ("John Laing") for a
cash consideration, including working capital, of GBP21.8
million.
Burton Wold Extension wind farm is located near Burton Latimer
in Northamptonshire and comprises nine General Electric 1.6MW-100
turbines with a total generating capacity of 14.4MW and is
accredited for 0.9 ROCs. The site has been operational since
September 2014.
This acquisition, which was agreed in accordance with the First
Offer Agreement between John Laing and JLEN, brings the total
capacity of the renewable energy assets in the JLEN portfolio to
123.9MW.
The acquisition was funded by a draw-down under the Company's
GBP50 million revolving credit facility and reinvestment of
cash.
Richard Morse, Chairman of JLEN, said:
"We are pleased to announce this acquisition, completing a busy
period for the Company during 2015 in which we have successfully
completed seven acquisitions, totalling GBP113 million, and adding
69MW of capacity to our portfolio. This acquisition also
demonstrates the continuing value of our First Offer Agreement with
John Laing."
Ends
For Further Details Contact:
John Laing Capital Management
Limited
David Hardy
Chris Tanner 020 7901 3559
Redleaf Polhill
Charlie Geller
Joanna Brown 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
This information is provided by RNS
The company news service from the London Stock Exchange
END
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