John Laing Environmental Assets Grp Acquisition (0042Z)
12 December 2017 - 6:00PM
UK Regulatory
TIDMJLEN
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 GBP43.0 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
GBP130 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
This information is provided by RNS
The company news service from the London Stock Exchange
END
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