John Laing Environmental Assets has announced the acquisition of a 4.2 MWp solar energy generation portfolio for £18.8m. The portfolio comprises 796 systems of residential rooftop, commercial rooftop and commercial ground mounted solar PV installations, distributed 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 and Enterprise Investment Schemes managed by Downing LLP and Beringea LLP and the founding shareholders and developers of the portfolio. The acquisition has been funded by a draw-down under the Company’s £50m revolving credit facility.
John Laing Environmental acquires 4.2MWp solar portfolio for £18.8m : JLEN