Acquisition

RNS Number : 8507K

John Laing Environmental Assets Grp

27 September 2016

 

27 September 2016

JOHN LAING ENVIRONMENTAL ASSETS GROUP LIMITED

("JLEN" or the "Company")

 Acquisition of Energie Eolienne de Plouguernevel wind farm

JLEN is pleased to announce that it has entered into an agreement with Energiequelle GmbH ("Energiequelle") to acquire 100% of the Energie Eolienne de Plouguernevel wind farm.  Following the acquisition of Parc Éolien Le Placis Vert wind farm earlier this year, this is the second project JLEN is acquiring from Energiequelle.  The consideration for the acquisition, which is expected to complete over the coming weeks (subject to the customary consents), is approximately €2.1 million.

The project is located in the municipality of Plouguernevel in the Côtes-d'Armor region of Brittany in northwestern France, and comprises five Enercon E-53 turbines with a total generating capacity of 4MW. The project benefits from a 15-year Feed-in-Tariff regime at a fixed rate adjusted annually for inflation.  The site has been fully operational since May 2016, and Energiequelle will continue to provide the technical and commercial management services for the project.

The acquisition is funded by utilising JLEN's existing cash balance and brings the total capacity of the renewable energy assets in the JLEN portfolio to 177.4 MW.

For further information please contact:

John Laing Capital Management Limited David Hardy Chris Tanner	[phone]
Winterflood Investment Trusts Neil Langford Chris Mills	[phone]

 

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