Acquisition

RNS Number : 8413X

John Laing Environmental Assets Grp

11 May 2016

 

11 May 2016

JOHN LAING ENVIRONMENTAL ASSETS GROUP LIMITED

("JLEN" or the "Company")

 Acquisition of Parc Éolien Le Placis Vert wind farm

JLEN is pleased to announce that it has entered into an agreement with Energiequelle GmbH ("Energiequelle") to acquire 100% of the Parc Éolien Le Placis Vert wind farm.  The consideration for the acquisition, which is expected to complete over the coming weeks (subject to the customary consents), is approximately €2.5 million.

The project is located in the municipality of Saint-Gouéno in the Côtes-d'Armor region of Brittany in northwestern France, and comprises five Enercon E-53 turbines with a total generating capacity of 4MW. The project benefits from a 15-year Feed-in-Tariff regime at a fixed rate adjusted annually for inflation.  The site has been fully operational since January 2016, and Energiequelle will continue to provide the technical and commercial management services for the project.

The acquisition, funded by a draw-down under the Company's £65 million revolving credit facility, brings the total capacity of the renewable energy assets in the JLEN portfolio to 132.9 MW.

Richard Morse, Chairman of JLEN, said:

"We are pleased to announce this acquisition, which represents JLEN's entry into the French market and is consistent with JLEN's strategy of diversification. This marks JLEN's first collaboration with Energiequelle, an established German developer and operator of wind projects.  We are in discussion with Energiequelle on other acquisitions for up to 10MW comprising 8 wind turbines in France, and we look forward to future partnering opportunities with Energiequelle."

Ends

For further details contact:

John Laing Capital Management Limited David Hardy Chris Tanner	020 7901 3559
Redleaf Communications Charlie Geller Harriet Lynch	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 Energiequelle

Energiequelle GmbH was founded in 1997.  The Company develops and implements renewable energy projects up to turnkey handover, and also offers technical and commercial operational management of wind energy plants.  Since its inception, Energiequelle have installed over 1000 MW of wind projects, and currently employs over 140 staff globally.   Together with its French subsidiary, P&T Technologie, they have installed a total of 75 wind turbines with a capacity of 153 MW capacity in France.

 

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