John Laing Environmental Assets Group (JLEN) has announced that it has acquired an anaerobic digestion asset, Biogas Meden Limited, for £16.2m. Biogas Meden owns the Welbeck Anaerobic Digestion Plant. Following this acquisition, JLEN has a portfolio of six anaerobic digestion projects and the total capacity of the renewable energy assets in the JLEN investment portfolio now stands at 279.2 MW. The plant has been acquired from a subsidiary of BayWa r.e Renewable Energy GmbH. Future Biogas Limited will provide management, operations and maintenance services to the plant after acquisition. The purchase was funded by JLEN’s revolving credit facility. The £16.2m purchase price is subject to a post-completion working capital adjustment.
About Biogas Meden/Welbeck Anaerobic Digestion Plant
Biogas Meden’s anaerobic digestion plant is located at Welbeck which is around 25 miles southeast of Sheffield, South Yorkshire. The plant was commissioned in March 2016, has a thermal capacity of around 5MWth and predominantly produces biomethane to be injected to the national gas grid. The plant also has a 0.4 MWe CHP engine and is accredited under the Renewable Heat Incentive (RHI) and Feed-in-Tariff (FiT) schemes.
About John Laing Environmental Assets
John Laing Environmental Assets aims to provide its shareholders with a sustainable dividend, paid quarterly, that increases progressively in line with inflation, and to preserve the capital value of its portfolio on a real basis over the long term.
The company in invests in environmental infrastructure assets with predictable, wholly or partially index-linked cash flows supported by long-term contracts or stable regulatory frameworks. Environmental infrastructure comprises 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.