11th May 2016 09:42
LONDON (Alliance News) - John Laing Environmental Assets Group Ltd on Wednesday said it had bought a wind farm in Brittany for around EUR2.5 million, in its first purchase in France.
The environmental infrastructure investor said it has purchased the Parc Eolien Le Placis Vert wind farm in northwestern France from renewable power plant operator Energiequelle GmbH. The wind farm comprises of five E-53 turbines, manufactured by Enercon GmbH, with a total generating capacity of 4 megawatts.
John Laing Environmental said the project benefits from a 15-year feed-in-tariff regime at a fixed rate adjusted annually for inflation, created to encourage the use of new energy technologies. The site has been fully operational since January 2016, and Energiequelle will continue to provide the technical and commercial management services for the project, John Laing Environmental added.
The acquisition will be funded by a draw-down of John Laing Environmental's GBP65.0 million revolving credit facility, and brings the total capacity of its renewable energy assets to 132.9 megawatts.
"This marks John Laing Environmental's first collaboration with Energiequelle, an established German developer and operator of wind projects. We are in discussion with Energiequelle on other acquisitions for up to 10 megawatts comprising eight wind turbines in France, and we look forward to future partnering opportunities with Energiequelle," Chairman Richard Morse said.
Shares in John Laing Environmental were down 1.2% at 99.50 pence on Wednesday.
By Hannah Boland; [email protected]; @Hannaheboland
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