John Laing Environmental Assets acquires CSGH Solar Portfolio for £12.2m

John Laing Environmental Assets (JLEN) has announced that it has acquired the CSGH Solar Portfolio for a total consideration, including working capital, of £12.2 million from sPower Holdings (UK) Limited. The acquisition, which was effected by purchasing the entire share capital of the holding company of the CSGH Solar Portfolio, was funded by a draw-down under the Company’s revolving credit facility. The purchase brings the total capacity of the renewable energy assets in the JLEN portfolio to 225.2 MW.

The CSGH Solar Portfolio

The CSGH Solar Portfolio comprises four ground mounted solar parks with a total generating capacity of 33.5MW. Of the four, three are located in South Wales (Crug Mawr – pictured, Golden Hill and Shoals Hook). All three have been operational since March 2015, have a total generation capacity of 28.5MW and are accredited for 1.4 ROCs. The fourth asset is Higher Tregarne, located in Cornwall. This has been operational since March 2014. It has a generation capacity of 5 MW and is accredited for 1.6 ROCs.

About John Laing Environmental Assets

JLEN’s investment policy is to invest in environmental infrastructure projects that have the benefit of long-term, predictable, wholly or partially inflation-linked cash flows supported by long-term contracts or stable regulatory frameworks.

Environmental Infrastructure is defined by the Company as infrastructure projects that utilise natural or waste resources or support more environmentally-friendly approaches to economic activity. This could involve the generation of renewable energy (including solar, wind, hydropower and biomass technologies), the supply and treatment of water, the treatment and processing of waste, and projects that promote energy efficiency.

Further details of the Company can be found at the company’s website www.jlen.com

JLEN : John Laing Environmental Assets acquires CSGH Solar Portfolio for £12.2m