John Laing Environmental Assets Grp Acquisition (8956K)
19 December 2018 - 6:00PM
UK Regulatory
TIDMJLEN
RNS Number : 8956K
John Laing Environmental Assets Grp
19 December 2018
19 December 2018
John Laing Environmental Assets Group Limited
("JLEN" or the "Company")
Acquisition of anaerobic digestion plant
JLEN, the listed diversified environmental infrastructure fund,
is pleased to announce the acquisition of an anaerobic digestion
(AD) asset, Biogas Meden Limited, for a consideration of GBP16.2
million which is subject to a post-completion working capital
adjustment.
JLEN now has a portfolio of six AD projects and the total
capacity of the renewable energy assets in the JLEN investment
portfolio now stands at 279.2 MW.
The AD plant is located around 25 miles southeast of Sheffield,
South Yorkshire, and was commissioned in March 2016. The plant has
a thermal capacity of c. 5MWth and predominantly produces
biomethane to be injected to the national gas grid.
The plant also has a 0.4 MWe CHP engine and is accredited under
the Renewable Heat Incentive (RHI) and Feed-in-Tariff (FiT)
schemes. The AD plant has been acquired from a subsidiary of BayWa
r.e Renewable Energy GmbH. Future Biogas Limited will provide
management, operations and maintenance services to the AD plants
after the acquisition.
The acquisition was funded by a draw-down under the Company's
revolving credit facility.
Richard Morse, Chairman of JLEN, said:
"This latest acquisition takes the Company's portfolio beyond
GBP500m and delivers on the Company's recent ambition to further
diversify its portfolio into the bioenergy sector. We are pleased
to add another high-quality asset to our growing and
well-diversified portfolio and to also see our partnership with
Future Biogas continue."
For further information, please contact:
John Laing Capital Management Limited
Chris Tanner
Chris Holmes +44(0)20 7901 3559
Winterflood Investment Trusts
Neil Langford
Chris Mills +44(0)20 3100 0000
Newgate Communications
Elisabeth Cowell
Ian Silvera
Tom Carnegie +44(0)20 3757 6884
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
LEI: 213800JWJN54TFBMBI68
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END
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