Acquisition

RNS Number : 0042Z

John Laing Environmental Assets Grp

12 December 2017

 

12 December 2017

JOHN LAING ENVIRONMENTAL ASSETS GROUP LIMITED

("JLEN" or the "Company")

 Acquisition of a UK onshore wind farm

JLEN is pleased to announce the acquisition of Llynfi Afan Wind Farm from John Laing Group plc ("John Laing") for a cash consideration, including working capital, of £43.0 million.

Llynfi Afan Wind Farm is located in the Afan Valley, Abergwynfi, West Glamorgan in Wales and comprises 12 Gamesa 2MW G80 turbines with a total generating capacity of 24MW and is accredited for 0.9 ROCs. The site has been operational since March 2017.

The acquisition was funded by a draw-down under the Company's £130 million revolving credit facility and from the Company's internal cash resources. The interest was offered to JLEN in accordance with the First Offer Agreement between John Laing and JLEN. It brings the total capacity of the renewable energy assets in the JLEN portfolio to 254.2 MW.

For further details contact:

John Laing Capital Management Limited Chris Tanner	020 7901 3559
Winterflood Investment Trusts                Joe Winkley Neil Langford	020 3100 0000
Redleaf Polhill 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

 

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