John Laing Environmental Assets Grp Acquisition (7880C)
20 April 2017 - 8:00AM
UK Regulatory
TIDMJLEN
RNS Number : 7880C
John Laing Environmental Assets Grp
20 April 2017
20 April 2017
JOHN LAING ENVIRONMENTAL ASSETS GROUP LIMITED
("JLEN" or the "Company")
Acquisition of UK onshore wind farm
JLEN is pleased to announce the acquisition of the Moel Moelogan
2 wind farm ("MM2") for a total cash consideration of GBP22.65m,
including working capital and the repayment of a project finance
loan at completion.
The wind farm is located at Moelogan Farm near Llanrwst, Conwy,
North Wales and comprises nine Siemens SWT-1.3-62 turbines with a
total generating capacity of 11.7MW. The project is accredited for
1.0 ROC and has been operational since 2008.
The acquisition was funded by a draw-down under the Company's
revolving credit facility.
In addition to the acquisition of MM2, the Company is also in
advanced discussion with the same majority vendors to acquire
another smaller wind farm located at the same site.
Ends
For Further Details Contact:
John Laing Capital Management
Limited
David Hardy
Chris Tanner 020 7901 3559
Redleaf Communications
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
This information is provided by RNS
The company news service from the London Stock Exchange
END
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