17th Nov 2015 08:50
LONDON (Alliance News) - John Laing Environmental Assets Group PLC on Tuesday said it has acquired a solar photovoltaic portfolio for GBP9.7 million in cash and working capital.
The deal was funded through a draw down of the company's GBP50.0 million revolving credit facility.
The 2.3 megawatt solar energy portfolio is fully operational, John Laing Environmental Assets said.
The portfolio comprises 303 systems of residential rooftop, commercial rooftop and commercial ground mounted solar PV installations across England, Wales and Scotland.
"The portfolio benefits from the UK feed-in tariff for 25 years from the date of installation of individual systems which is linked to an annual increase in the UK Retail Price Index. The portfolio comprises a number of special purpose companies financed and owned by venture capital trusts managed by Downing LLP and the founding shareholders and developers of the portfolio," the company said.
Shares in the company were up 0.5% at 106.24 pence on Tuesday morning.
By Samuel Agini; [email protected]; @samuelagini
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
JLEN.L