Acquisition

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 £22.65m, 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

 

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