John Laing Environmental Assets Grp Acquisition (9758T)
09 July 2018 - 4:00PM
UK Regulatory
TIDMJLEN
RNS Number : 9758T
John Laing Environmental Assets Grp
09 July 2018
9 July 2018
JOHN LAING ENVIRONMENTAL ASSETS GROUP LIMITED
("JLEN" or the "Company")
Acquisition of two anaerobic digestion plants
JLEN, the listed environmental infrastructure fund, is pleased
to announce the acquisition of two anaerobic digestion (AD) assets,
Egmere Energy Limited and Grange Farm Energy Limited, for a total
consideration of c.GBP36 million.
The Egmere Energy AD plant is located in Egmere, North Norfolk
and was commissioned in November 2014. The plant has a thermal
capacity of c.5MW and predominantly produces biomethane to be
injected to the national gas grid. In addition, the plant also has
a 0.5MW CHP engine and is accredited under the Renewable Heat
Incentive (RHI) and Feed-in-Tariff (FiT) schemes. The Grange Farm
Energy AD plant is located in Spridlington, Lincolnshire and was
commissioned in December 2014. The plant has a thermal capacity of
c.5MW and predominantly produces biomethane to be injected to the
national gas grid. In addition, the plant also has a 0.5MW CHP
engine and is accredited under the Renewable Heat Incentive (RHI)
and Feed-in-Tariff (FiT) schemes. The AD plants have been acquired
from venture capital funds managed by Downing LLP, EIS funds
managed by Amersham Investment Management Ltd and minority
shareholders. Future Biogas Limited will continue to provide
management, operations and maintenance services to the AD plants
after the acquisition.
The acquisitions build on JLEN's growing portfolio of AD
projects and bring the total capacity of the renewable energy
assets in the JLEN investment portfolio to 269.2MW.
The acquisition was funded by a draw-down under the Company's
revolving credit facility.
Richard Morse, the JLEN Chairman, said "We are pleased with
JLEN's continued investment in the anaerobic digestion sector and
look forward to working with our partner, Future Biogas, to
continue the strong performance of these assets."
For further details contact:
John Laing Capital Management Limited 020 7901 3559
Chris Tanner
Chris Holmes
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
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END
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