18th Sep 2020 09:44
(Alliance News) - JLEN Environmental Assets Group Ltd on Friday said it has acquired two operational hydropower stations and a battery storage system in the UK for GBP4.7 million.
The FTSE 250-listed environmental infrastructure fund has acquired Northern Hydropower Holdings Ltd which holds rights to two operational hydro projects, including a co-located operational battery storage system at one of the sites. The assets are located in Yorkshire and Cornwall.
The Yorkshire-based assets include Knottingley hydro, a 500 kilowatt dual turbine hydro project on the River Aire commissioned in October 2017, and a co-located 1.2 megawatt battery that was commissioned in January 2018.
The Cornish asset is De Lank hydro, a 99 kilowatt hydro project located on the De Lank River and commissioned in October 2011.
JLEN, which is funding the transaction through its loan facility, said the acquisition will increase the total capacity of its renewable energy asset portfolio to 304.7 megawatts.
Shares in Guernsey-registered JLEN were down 0.5% at 113.95 pence each in London on Friday morning.
By Tapan Panchal; [email protected]
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