John Laing Environmental Assets Group announces Icknield Farm anaerobic digestion plant investment
Source - SMW
John Laing Environmental Assets Group said it invested in the Icknield Farm anaerobic digestion (AD) plant for an aggregate amount of circa £11m.
'This acquisition brings the total capacity of the renewable energy assets in the JLEN portfolio to 259.2MW,' the group said. The acquisition was funded by a draw-down under the Company's revolving credit facility and from internal cash resources.
The investment consisted of the provision of a debt facility to repay existing loans and acquisition of a minority equity stake from private individuals who were the project's developers.
Richard Morse, the JLEN Chairman said: 'We are pleased to make a further investment in the anaerobic digestion sector through the Icknield Farm AD plant, which has a proven operational history.'
'The AD sector is attractive to JLEN due to the high proportion of inflation-linked revenues backed by government subsidy regimes, and we look forward to working with our partners in the sector.'
At 9:44am: (LON:JLEN) John Laing Environmental Assets Group share price was 0p at 104.25p