Acquisition

RNS Number : 1661H

John Laing Environmental Assets Grp

06 June 2017

 

06 June 2017                                                                  

JOHN LAING ENVIRONMENTAL ASSETS GROUP LIMITED

("JLEN" or the "Company")

Acquisition of CSGH Solar Portfolio  

JLEN, the listed environmental infrastructure fund, is pleased to announce the acquisition of the CSGH Solar Portfolio for a total consideration, including working capital, of £12.2 million.

The portfolio comprises four ground mounted solar parks with a total generating capacity of 33.5MW.

Higher Tregarne, located in Cornwall, has been operational since March 2014, has a generation capacity of 5 MW and is accredited for 1.6 ROCs. The other three solar parks, Crug Mawr, Golden Hill and Shoals Hook, are located in South Wales, have been operational since March 2015, have a total generation capacity of 28.5MW and are accredited for 1.4 ROCs.

JLEN has purchased the entire share capital of the holding company of the CSGH Solar Portfolio from sPower Holdings (UK) Limited.

The acquisition was funded by a draw-down under the Company's revolving credit facility and brings the total capacity of the renewable energy assets in the JLEN portfolio to 225.2 MW.

For further details contact:

John Laing Capital Management Limited                     020 7901 3559

David Hardy

Chris Tanner

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

 

END

 

 

ACQEAFKSESEXEFF