1st Apr 2015 07:00
1 April 2015
John Laing Group plc ("John Laing") - disposal of three investments in renewable energy assets
London, 1 April 2015 - John Laing, the leading investor and manager of international infrastructure projects, today announces the disposal of three investments in renewable energy assets to John Laing Environmental Assets Group Limited (JLEN) for an aggregate cash consideration of £42.5million.
Branden solar parks - disposal of 64% stake
Branden comprises two separate solar parks in Cornwall, with a total generating capacity of 14.7MW, together accredited for 2 ROCs. The sites have been operational since March 2013.
Wear Point wind farm - disposal of 100% stake
Wear Point is located near Milford Haven in South Wales. It comprises four Senvion MM82 turbines with a total generating capacity of 8.2MW and is accredited for 0.9 ROCs. The site has been operational since June 2014.
Carscreugh wind farm - disposal of 100% stake
Carscreugh is located near Glenluce in Dumfries and Galloway, Scotland. It comprises 18 Gamesa G52 turbines with a total generating capacity of 15.3MW and is accredited for 0.9 ROCs. The site has been operational since June 2014.
The cash consideration of £42.5million exceeds the combined portfolio value of the investments at 31 December 2014. The aggregate returns achieved are consistent with John Laing's track record of returns from disposals of renewable energy investments.
Ends
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About John Laing
John Laing is an originator, active investor and manager of international infrastructure projects. We invest at the greenfield stage and our business is focused on major transport, social and environmental infrastructure projects awarded under governmental public-private partnership (PPP) programmes, and renewable energy projects, across a range of international markets including Asia Pacific, UK, Europe and North America. We are one of the world's most trusted brands in the field of infrastructure thanks to our expertise and credentials, with more than 100 projects in the last 30 years. On 17 February 2015, shares in John Laing were admitted to listing on the London Stock Exchange.
www.laing.com
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