John Laing Environmental Assets Grp Acquisition (9902X)
16 August 2018 - 8:01AM
UK Regulatory
TIDMJLEN
RNS Number : 9902X
John Laing Environmental Assets Grp
16 August 2018
16 August 2018
JOHN LAING ENVIRONMENTAL ASSETS GROUP LIMITED
("JLEN" or the "Company")
Acquisition of an anaerobic digestion plant
JLEN, the listed environmental infrastructure fund, is pleased
to announce the acquisition of an anaerobic digestion (AD) asset,
Merlin Renewables Limited for a total consideration, including
working capital, of c. GBP18.1 million.
The Merlin AD plant is located in Hibaldstow, North Lincolnshire
and was commissioned in September 2014. The plant has a thermal
capacity of c.5MW(th) and predominantly produces biomethane to be
injected to the national gas grid. In addition, the plant also has
a 0.5MW(e) CHP engine and is accredited under the Renewable Heat
Incentive (RHI) and Feed-in-Tariff (FiT) schemes. The AD plant has
been acquired from Venture Capital Funds managed by Downing LLP and
minority shareholders. Future Biogas Limited will continue to
provide management, operations and maintenance services to the AD
plants after the acquisition.
The acquisition builds on JLEN's growing portfolio of four AD
projects and brings the total capacity of the renewable energy
assets in the JLEN investment portfolio to 274.2MW.
The acquisition was funded by a draw-down under the Company's
revolving credit facility.
Richard Morse, the JLEN Chairman, said "This latest acquisition
further underlines the commitment JLEN has to diversifying its
portfolio and the value it places in the anaerobic digestion
sector. We are pleased to see our partnership with Future Biogas
continues to strengthen across a portfolio of four projects
together."
For further details contact:
John Laing Capital Management Limited 020 7901 3559
Chris Tanner
Chris Holmes
Winterflood Investment Trusts 020 3100 0000
Joe Winkley
Neil Langford
Redleaf Polhill 020 7382 4769
Charlie Geller
Harriet Lynch
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
LEI: 213800JWJN54TFBMBI68
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END
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