JLG John Laing Group Plc

TIDMJLG

RNS Number : 2062S

John Laing Group plc

29 September 2017

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

John Laing makes further renewable energy investment in US and increases 2017 investment guidance

John Laing Group plc, the international originator, active investor and manager of infrastructure projects, is pleased to announce today a further wind farm investment in the state of Texas and its third investment in the renewable energy sector in the US.

John Laing is investing $85 million (GBP63 million) by acquiring from Akuo Energy the majority of the equity interests in the partnership which controls the 149MW Rocksprings wind farm project. The wind farm is located in Val Verde County, Texas and benefits from power purchase agreements with two investment grade corporate off-takers.

As announced in John Laing's interim results on 24 August 2017, investment commitments for 2017 to date are GBP159 million. Taking into account the Rocksprings investment, commitments will increase to GBP222 million, exceeding the guidance of approximately GBP200 million for the full year.

Looking ahead to the remainder of 2017, as previously announced John Laing's consortium was appointed preferred bidder in July 2017 for the Melbourne Metro PPP project. Assuming this project reaches financial close in late 2017 as currently anticipated, the Group's investment commitments for 2017 will increase accordingly. A further update will be given nearer the time.

Olivier Brousse, John Laing's Chief Executive Officer, said:

"It has been an active year so far for investments and we are pleased to have already delivered our guidance of GBP200m of investment commitments in 2017. We continue to have a strong pipeline of attractive investment opportunities with our consortium appointed as preferred bidder for the Melbourne Metro project which we anticipate will close in late 2017."

 
 Further information 
 
 Analyst/investor enquiries 
 
 Olivier Brousse, Chief 
  Executive                    +44 20 7901 3200 
 Patrick O'D Bourke, Group 
  Finance Director             +44 20 7901 3200 
 
 Media Enquiries: 
 
 James Isola, Maitland         +44 20 7379 5151 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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September 29, 2017 02:02 ET (06:02 GMT)

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