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JLEN to acquire wind farm

27 September 2016 13:43

John Laing Environmental Assets Group has entered into an agreement with Energiequelle GmbH to acquire 100% of the Energie Eolienne de Plouguernevel wind farm.

Following the acquisition of Parc Eolien Le Placis Vert wind farm earlier this year, this is the second project JLEN is acquiring from Energiequelle. The consideration for the acquisition, which is expected to complete over the coming weeks, is approximately €2.1 million. The project is located in the municipality of Plouguernevel in the Cotes-d'Armor region of Brittany in northwestern France, and comprises five Enercon E-53 turbines with a total generating capacity of 4MW.

The project benefits from a 15-year Feed-in-Tariff regime at a fixed rate adjusted annually for inflation. The site has been fully operational since May 2016, and Energiequelle will continue to provide the technical and commercial management services for the project. The acquisition is funded by utilising JLEN's existing cash balance and brings the total capacity of the renewable energy assets in the JLEN portfolio to 177.4 MW.

At 1:43pm: (LON:JLEN) John Laing Environmental Assets Group share price was +0.25p at 103p

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